Ann: Trading Halt, page-55

I am as disappointed in the 20% CR discount as most LIN shareholders.

However we need to face some facts.

1. Finance negotiations for Lindian are usually done by the Chairman and not Alistair.

2. It’s always difficult to obtain local funding for projects that are in other continents.

3. Discounts are a by product of project risks, availability of funds and timing of project development.

4. Although LIN may have future clients interested in offtakes it appears that none have committed as yet.

In conclusion let me refer you to the discount offered by Arafura late last year for its CR. It was 16% for $120m.

The REE and bauxite resources are still held by LIN and available to be exploited. The future looks exciting. Forget today’s share price. Focus on what lies ahead.