Ann: Removal from Official List, page-7

If you want the full story I suggest you give Randal a call. He's actually a really nice guy and has a lot of time for share holders. In a nutshell CGM has sold off anything that can be liquidated to pay bills and debts. All that remains is Pyke Hill and the shell currently known as COUGAR METALS. In some cases value can be realised from the shell. Some companies see it as good value to buy a ready-to-go shell with a trading history and an existing shareholder base. This usually results in some cash changing hands and some free shares for the existing holders like us. But the main asset is Pyke Hill. Once the legal issues are resolved in our favour it can be put into trust until it can be sold. Once that is finished the creditors get first dibs and anything left goes to the shareholders as a cash payment. Then and only then will the process be complete. I'm sure Randal and the team are working hard to get the most value for shareholders. It's in his best interest to make good deals. You only need to look at the T20 to realise how much skin he has in the game.