Ann: Placement, page-9

My guess is they will sell a majority stake in LC to some fund who can afford too sit on it for a few years then flog it off for a tidy profit , I reckon they'll pay between 15 and 30 mill for 60 to 80 percent. Some of the values some people put on the project in this environment are laughable, it's been on the market for a long time now and that's got to be telling you something . They will retain a minor share to get some benefit when there is a stronger appetite for such a resource in years too come. The TD2 drilling must have been a dud otherwise they would have waited until results were released before doing current placement . I believe any funds obtained through part sale of LC will be directed to our nearly acquired gold project to fast track it to production which is within the scope of current management . Any hopes of selling all or part of LC for a figure which is many multiples of our current MC is just a dream in my opinion, I'd like to be proved wrong but I don't think I will be. Just my 5 cents worth, look forward too responses.