Questions for 2017 Annual Report Webinar, page-9

Webinar : In Cottee's opening few words he says that when he took over as MD in July 2012 the Company was $35 million in arrears in the exploration programmes. That is patently untrue and spin all for his advantage. All exploration companies commit to annual exploration expenditure which is due to be completed on each anniversary date for each of the relevant tenements which usually all have different dates. Cottee's spin is that the Company had reached the anniversary dates for $35 million of expenditure in total across various tenements and was behind in its expenditure. Absolute bollocks! Go through CTP's books now and you will find that there will be at any time a lot of exploration expenditure due to be completed by the relevant tenement anniversary dates. I have to hand it to him however, when his career is finished with CTP it will be an easy exit into a career in pork barreling politics.