Ann: Regal secures USD7 million for its gold proj, page-2

re: Ann: Regal secures USD7 million for its g... I have read this announcement and am pleased that the $7M transfer from Afrimines is reported to have taken place, albeit a little late, .........no probs, I can handle a little bit of slippage. RER have the funds now to advance the Congo project.

It is mentioned that drilling IS ongoing at the Kadutu Prospect....and I assume HAS been ongoing since the last release. Here’s hoping it has. I would like to point out that I have no problems with Mr Youngs handling of the Gold project in the Congo.

However, the glaring omission from this release today is any mention of the UCTL project and what is happening if anything. I am beginning to smell a largish rat in regards to this project.

To me, the results as reported in the release titled UCTL Update - Significant Progress on the 20th of June 2012 were very exciting for the future of this technology along with the possibility of further patents on the intellectual property, a future that I want to be part of!

Why is this project being ignored and completely unreported by the company? Are they hiding something from the shareholders? The longer that the company fails to report on this issue, I become more and more suspicious of some ulterior motives going on in the boardroom, especially as it is almost impossible to make contact with any of the board members, as reported on this forum.

The MD lives in Europe and the board members do not return calls. How are common shareholders supposed to make informed decisions regarding the running of the company, if they cannot access the MD or members of the board?

Are they planning to hive off the UCTL project into one of their private companies and hope no-one notices?

I am not into conspiracy theories, but RER need to come out with a release on the issue of UCTL and FOG to make it clear to shareholders exactly what is going on.......soon! If they don’t, then I will start making some enquiries, I don’t know if I will be able to dig up anything, but it won’t be for the lack of trying.

Regards

LL