Ann: Share Purchase Plan Prospectus - Offer Open, page-5

Zeff indicated they they were in negotiation with Wanaco to make an early pay out to reach 100% ownership at the time court proceedings were lodged and that they viewed it as a clumsy move to push for more money.





The capital contribution and increase in ownership happend way back in February that 7 mil would have been spent a while ago now, and yes the jv partner was diluted as they didn't contribute.

Tesoro Chile as the controlling partner have the final say and works have continued regardless of the court dispute so I'm not concerned about the impact on exploration.

In summary I'm expecting the court proceeding to bring about a full resolution and winding up of the JV.