Ann: Sale of Mt Henry Gold Project, page-10

Cannot agree more with the disappointment but not so sure it has been a waste of time. The mining game is a complex mix of planning, finance, management and a hell of a lot of luck. I am a top 20 shareholder who has been in it since Matsa started and am convinced that it is extremely well-managed and has a number of excellent projects. In my opinion
management is doing its best to develop these projects as economically as possible. What I do like is that unlike many other junior explorers that continually dilute shareholder wealth with endless capital raisings, Matsa has made some
excellent financial decisions such as the Mt Henry deal to be well-placed to finance its various programs.
While the company is continuing to progress its W.A. projects, perhaps Thailand will be the "big payola" we are all
hoping for. Management seems to be giving more attention to this project in recent weeks which could be some indication of confidence.
Finally I'd like to know what you mean by "huge wage". Do you know what his wage is? You see in the media every day
where some of these bigger companies give their MD's a huge increase in salary even if it makes a massive loss. How does that work? In any event, I'm sure that your understandable frustration will disappear if Thailand or one of the other projects proves to be a success story. Seriously, hang in there. We're overdue for a change of luck. Cheers JP