Ann: Trading Halt , page-14

The financing will probably be to instos and shareholders via spp and at these levels it is an opportunity to buy cheap stock.

A recent Royal Bank of Canada report dated 20 April valued the Kipoi project at 13c on a copper price of $2 a pound and discount rate of 8%. No value was given to the Lupoto project where things are looking interesting at Sase and Mwana. No value has been given to potential resource increases at Kipoi

This project is a very good project and with government owning 40% of Kipoi they have a serious incentive to develop this project.

Plenty of upside in Lupoto project where TGS owns 100%

No value being given to Cobalt either.