Ann: Letter to Shareholders Re Rights Issue , page-27

Whatsup

I think what SH's carnt afford to take up with the rights they just DONT sell the rest for a lousy cent or 2.
That way if we take up 50 million worth the underwriters
get none to sell and others paying a cent or two for rights dont get the rights to the options for $2.51 .
Then I think the options would be sold on market .
If the price stays under 50 cents the SH 's should buy as many as they can to get their % back up.
iF they jump up to 70 or 80 cents hopefully you have been able to take up half your rights and therefore your options that you were entitled to .
If you believe in the future of CDU then it will be win win for SH's.
The only LOSE is if you dont take any rights and the options jump in value so you dont or carnt get any.
So IM getting as many rights as I can and if the options stay below a certain amount ($1) for me I keep topping
up through that.
We will be in full minining and paying divis well before the 15th December.