Ann: Pluton acquires additional 50% of Irvine Isl, page-94

re: Ann: Pluton acquires additional 50% of Ir... Hi chubbito,

I'm posting from the airport. As I stated in the announcement we have offers for finance from 3rd parties as well as the options of capital raising.

I am very comfortable that we will get what funds we need, and I am working on this now.

As to the share price going down, it is not that uncommon for a SP to fall when you buy an asset and need funds to complete the transaction and funds to do something with it. People get spooked and assume that a large capital raising is coming at a vastly reduced price. Normal reaction is for short term holders to sell.

We will get the funds, I just have to make sure we consider all the financing options and recommend the right way to go to the Board.

Of course there will be some dilution, however doubling the ownership of Irvine for a 20% dilution gives us a lot of room to move. I would hope in time that this was seen as a very smart transaction.

Cheers, Tony.