Ann: Response to Zhaojin Takeover Offer, page-58

This should attract another bidder in the short term or the current bidder has to lift their price. The stock is trading above the bid price. The stock is worth closer to 80c. If people hold the stock, it should be worth north of a buck at full tilt next year. The ounces per month and head grade keep climbing. The board has also said, take no action as it undervalues the company. I think that is an understatement. We are seeing this across the gold space as you know.