Ann: Update on Project Financing for Jabal Sayid , page-11

re: Ann: Update on Project Financing for Jaba... Is there an approval in principle subject to the license only? I haven't seen or have missed that.

The announcement on the 3-3-10 certainly had a positive spin on it, but still has other hurdles that will need to overcome for final unconditional fating....we are in unexplored terrain with the Arab Emirates never previously approving a mining licence. There is no precedent or template at this point in time to follow. Citadelare being trail blazers ...I'm hopeful & have put my dollars onthe line.

Whilst it seems to be a 'lay down misere' still has to finish getting the boxes ticked & money in their hands (GFC has shown that solid approvals are only as strong as the Bank backing them).

Share price turnaround over the past week or so would indicate that it's all good.

Watch closely

M