Ann: $58m Funding to Completion of Feasibility St, page-39

re: Ann: $58m Funding to Completion of Feasib... NTU needs to stop and look at the big picture before jumping on Conglin's sword. The rush to seal a deal for feasibility money is after the initial JORC result is at least 12mth premature. Money for doubling exploration to try to improve the JORC should be the priority. The fat lady is far from singing with the tenement potential that NTU holds, so why the rush to gift this to Conglin. It's a premature sell out that is not in the interest of other shareholders. They don't even get 0.01c of the money till after this years drilling and assay results that could change the whole value of the company. Its only after extensive drilling for years do they get a handle on the geology and develop more targets. They have not done enough to be even contemplating jumping the gun on that initial JORC. It seems to me by this 16% ownership with the 36% production option gift that the board has totally given up, and it clearly looks like desperation in snapping up the first predator to walk in the door. I just love the extra shareholder slap in the face by Conglin, "Oh yes" I don't have the cash now so I will "pay you latter" (just sign the deal and let me in)!!!

What is the big rush to sign? Does the board not see that in 12mths let alone 24mths the market will be vastly different? Sure we need money for exploration now, but the rush for feasibility money (based on the initial JORC) is madness. This is not just my opinion its the markets opinion. Notice after the announcement of opening the Conglin door the market has clearly voted "NO", we are not interested in NTU using our money to load up Conglin's pockets at our expense. Conglin has a clear track record of positioning himself as a major shareholder then moving when he can towards his forte of a bargain stealth takeover. He leaves little more than a hollow shell while all other retail shareholders are left holding worthless paper.

My opinion has always been that NTU has great potential within their tenement locations. But this premature gifting it to Conglin is telling me that the board must not hold the same faith (in what it has) and is in a mad rush and desperate to secure anything. Why else would you contemplate signing such such a poor deal?