Ann: Resignation of Chief Financial Officer and Company Secretary, page-14

Shareholders are between a rock and a hard place. The ROCK: an opportunistic shareholder trying to fix things with a new board (that don't have the best record themselves). The HARD PLACE: Ken and John the only two board members that have been there through the rise and fall of TRY.

Shareholders and Investec must surely see that Ken and John have driven this company to ruin. Who did the due-diligence on Guyana mine plan - KEN, who built a shoddy problem filled operation - KEN, who allowed him to - JOHN. It is easy to go on and on.

While the ROCK is not a great place at least it can be climbed. I think new management will be less defensive and more able to make the hard decisions required. They are also more likely to get Investec support - because Investec will find it difficult to support Ken and John's performance.

Gerry, the new (and old) CFO is a safe pair of hands - for whoever wins. I hope he stays.

As for shareholders - I really do wish the best for all of you. If the Ken and John show prevail - it will be a slow but certain death. If the new crowd come in it will be a slow and uncertain climb out of the hole.

Over and out.