Ann: Exploration Update and commencement of drill, page-32

re: Ann: LCY: Exploration Update and commence... O, the way you are asking the question - are you inferring that when LCY officially acquires 60% of MT Bevan, HAW SP will drop from current value and LCY will shoot up? Both HAW and LCY are currently undervalued at current sp but I believe that HAW owning 40% and LCY acquiring 60% of MT Bevan in the future has already been factored in by the market.

Lets assume that this is not the case and is not factored in then it implies that Mr. Market sees HAW as owning 100% of MT Bevan 1.6BT of IRON ORE @ $26M . I am not taking into consideration of the other tenements owned by HAW so if we do take this into consideration then the 1.6BT will be worth even less?? And as you put it – what will happen IF we lose the 60% then HAW’s sp will drop to 0.005c???!

If you want to be objective and stay on the topic then I don’t think that this question is even valid.