Ann: Response to ASX Query Letter, page-46

Is the hunch the timeline or the purchase?


If they were desperate to start trading they could pickup an exploration license anywhere for $50k and say we're looking for the white stuff.


If they can keep the team they have together then I'd be all for getting onboard a new project in a safer jusidiction.

Their ability to execute the Goulamina Project was/has been excellent. I doubt anyone would be able to argue otherwise.

Without having full visibility on whats been transpiring since the demerger and junta control, it's hard to pass judgement as to performance in this regard.

I still believe they've managed to achieve the best outcome possible with the issues we were facing. The fact we're looking at possibly acquiring a new project with new possibilities should be seen as a positive. In reality, the alternative is much worse, just look at AVZ.

It's a very hard pill to swallow seeing how close we came, as investors and supporters, to benefiting from all the hard work the team (inc local Malians) worked to get the project delivered to a producing mine. Luckily the local community will still benefit (hopefully without interferrance from the Government) from all the hard work, which is another positive to take away from this.