Questions for Mr Pinto and Mr Gray......, page-14

actually I'm trying to do the opposite to down ramping and point out that the constant scaremongering of huge debt or talk of 10 to 20 hammer mills is not the issue. Obviously I am not getting the point across so apologies. If you must know, I know someone personally effected by this companies demise and it has effected them in a big way.

Orinoco gold do not have a $30 or $40m debt. they owe 14,300oz over the next 2 years with 333oz per month (or cash equivalent) the minimum repayment. This should be easily achievable with so much gold in the tailings stockpile. Talk of 30-$40m debt is total BS.

Opex in Brazil is crazy cheap so another advantage.

The credit notes are no longer an issue as they cannot be converted for less than 1.25c. The money owed on unconverted notes is minimal (not sure what it is exactly) and they can be bought back at any time in the next (roughly) 10 months.

Using the bonus shares as another debt is also BS as if they are released it means they have become cash flow positive enough to pay the royalty, invest in cascavel and re-start exploration.

They are in JV negotiations with the 3rd biggest gold producer in the world, on ground that is rumoured to have 5m oz's of gold (elisio) so a <$10 market cap seems an incredibly cheap entry point.

So why the apathy? IMO Its because the management team have been completely inept at using the money raised and have dragged their knuckles on absolutely everything, making terrible decisions along the way. Pressure needs to be put on them to change whatever it is they are doing and communicate with shareholders exactly what it is they plan to do and why - or they should resign. You have a meeting this week which could be a platform for making yourself heard but I bet you nobody turns up.

Retail shareholders have far more power than you think when holdings are combined.

As for the talk of anglo buying up 40m shares, if true that is great news. Another reason to get the top20 shareholder list. easily done if you are a shareholder. Check broker data from that date? Ask management to pressure them into releasing a change of substantial holders notice. This is news which should attract buyers, not continue the demise.

If this news is true it seems anglo have just sat back and waited for management to keep messing up before making a move. again, not a good look for management. If they had listened to their own advice ten months ago anglo may have been forced to make a move at a much higher price -

"these initial results show that the recovery and grade can dramatically improve when it is not processed in the current gravity recovery plant" 

Best of luck. Ignore the scaremongering and pressure the managers of your company to get their act together.