Ann: Annual Financial Statements, page-26

Given Ralph doesn't talk things up (like the revenue statement I suggested earlier), then I think I can forgive them for the slight delay. ;-)


Following a Memorandum of Understanding signed by both parties in November 2013 committing to
pursue this transaction, it became clear that there would be potential advantages in linking all SPM’s
regional assets into the sale agreement, including mining tenements and operations. While this created
some delay in finalisation of the documentation, I am very pleased to report this unavoidable and
prudent delay has led to an improved outcome that consolidates all the assets into a single entity.
Subject to shareholder approval at an extraordinary general meeting expected to be held in October
2014, management is of the opinion that this transaction will provide a significant boost to CSD, and
build shareholder value through a more diversified commodity base and producing entity.

The next 12 months are shaping up as being a watershed for the Company as we seek to transition
from being tin explorer/developer to tin producer in 2015, and as we progress the proposed acquisition
of Snow Peak Mining’s assets and existing operations.

The definition of WATERSHED:
An event marking a unique or important historical change of course or one on which important developments depend.


TOOT, TOOT!!!