Ann: Postponement of General Meeting , page-89

"There is always a plan B"

However still not convinced one is required.


Showmans Post #: 7985302 13/04/12

Hi Cubbito,

at last a good question.

I will make it clear. The JTC did not drop Pluton, we dropped them. It became clear we needed a beneficiation partner and the Japanese do not have beneficiation facilities.

We needed someone who could beneficiate our product and that clearly was the Chinese. Timeone has the expertise, the facilities and the contacts to do this. That is why we selected them. As we all know things went off the rail when a key investor, who I have met and visited Irvine, fell over. This was not good for anyone, that I admit.

Timeone bringing in SS&T at sure short notice shows the quality of their relationships.

We only met them 4 weeks ago and they have committed $70m. True we have to finalise the legal's but we have agreed to terms.

We always have a plan B. It's what I
get paid to do. Timeone weteplan B to the JTC but ended up being our plan A.

There is always a plan B chubby.


Thanks for the good question.

Cheers Tony.