Ann: Placement , page-5

I am very happy with this deal. Is excellent outcome in market and circumstances.

I agree we wish it was higher but times are tough and this is a great deal verus a rights issue that most companies are doing.

Kangala has taken time. Jonathan - i think the prospectus details you quoted are misleading. The capex numbers were for ROM at much lower profit and not for plant build which UNV can leverage on other deposits. Agree there have been delays but I am very happy with final outcome.

Markets remain tough but company ticking the boxes in my eyes. Yes we have suffered more dilution than a year ago we would have liked but still great upside from here. You need to adapt to current environment and act accordingly.

I look forward to certain cashflow going forward.....just what doctor ordered in current market!