Ann: Chairmans Letter - Hillside a high quality Project, page-4

agree Bornite. Too little, too late. It only rubs it in for those that sold due to the previous ambiguous and negative announcement. Very poor form. Not disappointed that i sold out one bit. i'm still confident that this project is dead and that i've made the right decision. how many of these communications have shareholders seen? good day for those on the fence to get out i think.

Fact is: their primary, fit-for-purpose large-scale option is not economically viable, in that it cannot attract finance. now all they are doing is grasping at something, ANYTHING, to justify their existance. but the writing is on the wall. in fact, it has been on the wall since first mention of 'fine-tuning'. any project of this supposed scale would not get voluntarily delayed 6+ months for the sake of fine-tuning.