Ann: Appendix 3B and Cleansing Statement, page-9

the expenditure for Muller and Bugalo are still quite low for this year. Im still thinking Peter (remember he is still doing the geology) is ticking a few boxes to satisfy the Majors who are looming. He did announce this last year and mention the same to me in conversation however didnt mention who. Just that there was a major that wanted some extra info. We also havent seen the results of the site visit which tells me it is still to happen. Now that we are cashed up again this may also be organised. Would be great to see Swit Kai go to mining.
Also remember Peter and Paiges own company also have several ELs in PNG which they took on when FNT was struggling in order to hold onto them. Mt Andrewa was one. Huge resource potential and still to find the high grade ore. Gives us options if we dont get Tolukuma or Sinivit. Ministry taking forever to complete ELA's at the moment. There are around 63+ allotments awaiting approval at the moment and many have 3-6 applications on them from mining companies all over the world. (just what I counted). We are doing well to have what we have and to be first or second in line on others. all my own opinions

GD