Ann: San Jorge Drilling Program-AVQ.AX, page-85

The SIG's position is a difficult one in that this whole area has been disputed and argued over for at least 30 years. With years and years of litigation long before this latest round.

The solution of registering the land to a specific group of landowners and cutting through all the red tape and essentially going around the legislation was an elegant idea that nearly got there. But it got kicked to the curb by the COA and reset everything back to square one.

There was truth in the premise that if the appeal had been dismissed and the decision was in AVQ's favour then that was the last legal avenue open to the appellants. There was no further court to go to. That was true but there seems to now be the misconception that there can be no more legal action and that is simply not correct in light of us losing the COA.

The appeal unwound all the land registration and leases and reset the process to zero. The SIG needs to have EVERYONE on board before it issues an LOI or deals in any way with the proposed tenement or it opens itself up to unhappy groups heading off to court again. They won't want this to happen so I'm sure they want everyone in agreement or they know its pointless proceeding. If everyone was in agreement the SIG would issue the LOI. My guess is that everyone isn't over the line so they are still working on it.

Its not a case of wanting or not wanting AVQ its a matter of getting a very fractured group of landowners to agree to a course of action to avoid another lawyerfest. If they can't get agreement then IMO they will probably just leave it in abeyance and perhaps go down the long path of changing legislation to take a more direct control over land access/mining but this would undoubtably be a long process.

IMO we will see a sharp refocus on San Jorge and the results there will be used to assist with the inevitable raising of more cash which IMO should be coming up again pretty soon. So I think we will see some SJ results soon along with a SP pump then some sort of CR.

If this is the case then for myself I will probably take the opportunity to pop out of the stock as I think its a lot longer road ahead than we think or hope. For those that stick to it I genuinely hope that I am way off target and that its all closer than it seems and it comes together for everyone.

Cheers
DJM