FREIDA. - Take your chairs Gentlemen ( and Ladies), page-5

I hope this is not a precursor to PanAust bidding for HIG as it is worth much more than current .I have always said I would prefer to participate in Frieda as a shareholder in HIG rather than take the money.The good news is HIG is now much stronger financially to pay its way in the development proposed in the PanAust June quarterly.