Ann: Update in relation to Lady Annie IPO - Share, page-10

re: Ann: Update in relation to Lady Annie IPO... I personally found the new conditions for the Lady Annie float very confusing - can't work out in my own mind just where the missing $ 50 million goes - differential between what gets actually subscribed , and what finishes up in the pocket of CFE . And I'm an Accountant ! ( albeit an elderly retired one ! ) .

I'm sure that the initial objective has been tweaked somewhat to ensure maximum benefit for CFE SH's ( of which TS is the biggest ) , but still can't see the wood for the trees . Hopefully all will become clear when the prospectus is finally released . Then the investment decision will be , IMO , whether to fork out " new money " to invest in the QCopper float on hopefully favourable CFE SH terms , or whether to simply remain as SHs in CFE and hope that the float increases the 'parent company's ' SP .

Interesting days ahead !