Ann: Further Positive Drilling Results from Tregony, page-7

I feel sorry for all of you people. I could say i told you so, but that doesn't cut the mustard. Old Pirate was a viable mining operation, but was ruined through lack of expertise & arrogant incompetence & here i am not just talking about the then MD, but the whole BOD who took us to the cleaners to feed their own lifestyle. The Coyote mill incident comes to mind. The new board were in the main all geologists with years of experience, so from an exploration point of view it was a dream come true for them. To wonder through the outback searching for another Granites paid for by you shareholders & a great tax offset for some people further up the food chain. Any small slightly viable discovery would if found be like Old Pirate to be sold off to further everybody else's lifestyle. The unbelievable increase in the cost of mining makes any isolated deposits uneconomical in today's world & i believe that includes even Old Pirate. Good luck to all for the future.