Ann: Change of Director's Interest Notice, page-32

Spoke to Les, first things first, he set a few things straight which I enjoy about a person. He gave me a good 35 minutes and I have just got off the phone. I wasnt told anything the market doesn't know so I cannot help you there. I usually make calls when I am disappointed to gauge the people at in charge so I can only speak about this and other points we spoke about which had been announced.

After speaking to him, I am confident the model is still in tact and they will continue to focus on Carr Boyd area. I discussed the way they report and he took the feedback on board. Carr Boyd did change the dynamic a bit, and it was interesting to find some good extension below. It doesnt effect the T5 basal contact model in reality and they will continue to drill the contact in search for some of these trap sites.

He was able to readily admit some mistakes have been made a long the way but are trying to sort them out the best they can. The options within the historical capital structure have been a major issues as has the Regal stuff. This looks to almost be complete, may take a little more time to wash through. They believe they have a good plan in place for Capital going forward and acknowledged the past mistakes.

The money is being spent o the right things, Spargoville as per announcement and clarification was for sale and still maybe if a reasonable offer that helps shareholders is offered. Right now Cash is preferred over script. I believe drilling some holes in Spargoville as per announced previously will really help to stabilise the share price here and I believe that is the plan. Hopefully they will get some metallurgical information off the back of these.

Anyways I think people know I am one of the bigger critiques here however Les has taken the time to hear my concerns and didnt hang up on me even though I probably deserved to be in the first 5 minutes. That to me is a good measure of somebody resiliant. So to summarise, Carr Boyd model in check, Work to be done on spargoville, Capital strategy in place, Mistakes admitted and learnt from, SP being hurt from previous capital structure decisions.

I probably sound manic but usually all it takes to solve shareholder confidence is a communication line and off the back of this communication line I am happy to buy more on Monday as I missed the close because I was on the phone to Les.