Ann: Appendix 3Y Ross Taylor - 5 May 2015, page-8

I lost the actual figures I did on this, but Ross Taylor is into LSR for around a $million. Based around that and the facts at the present moment:-

We have several "interested" parties looking at a potential JV. Indications are that their collective offers are not quite cutting the mustard with regard to shareholder value, when considering what we may be sitting on. On that point alone, the Board may appear stationary but at least they haven't simply sold us down the road just for the sake of rustling up a couple of million (not that Ross Taylor would be party to that at the moment anyway)

Following on from the above, RT is simply taking advantage of the current Mexican standoff and averaging down, and my guess is he will continue to do so.

Being on the Board he has full knowledge of the offers on the table ..... Once he gets enough shares to make his holding valuable at a lower SP, I reckon that's when the serious negotiations will develop.

Frustratingly slow moving at the moment and sheer boredom could drive the SP lower, but on the positive side, the risk factor at the current SP given RT's involvement is very low.