Ann: Mitsubishi Funding & MoU Update , page-8

Hi guys,

Todays,

Thanks for your posts. You always seem to boost our spirit when things appear dire. Notwithstanding, i remain intrigued at the 1 million funding. What exactly is it for?

The board have outlined to shareholders their intention to commence further exploration, and as they have continually reiterated - the environmental approvals for the stockpiles have been granted. pertinently, i answer Serge thus - it appears Mitsubishi want the mine, hence their reluctance to fund the 'real project'. i would assume that the funding contract would have included a particular performance provision for the expenditure of the funds - namely on hardrock mining approvals and red tape etc. Of course Mitsubishi would be stressing the importance of these permits for them to forward the remainder of the 15mil.

In short terms i believe mitsubishi want the mine 'dirt cheap' and if no other 'funding partners' or 'potential offtake partners' exist, their wish is our command.

I am eager to hear what others think.