Ann: Four Mile Project - PEPR Status , page-28

"We do currently own 25% of the project. We do have rights with regard to the project"

J1

We don't know what actually has been written into and agreed to by AGS with the J/V Agreement.

It maybe a case of H/Q control everything and AGS will receive a cheque in the mail when sales happen.

From memory with H/Q and their recent defence/reply submissions they believed AGS was not obligated to inform the ASX. So from their point of view there is no need to inform AGS of happenings. (opinion only)

Retaining only 25% will be a nightmare. imo

Md