Ann: Notice under S.650F - Gandel Metals Bid now Unconditional, page-6

I’m a long-term holder too, of twelve years. I’m not inclined to sell either, and the current situation makes me recall a situation I found myself in when Portman Mining (iron ore) was the target of a takeover by Cleveland Cliffs around about 2003. The offer was about $3.80ps and the board, except for one director, was recommending to sell. I thought it was too low but when the last director then recommended selling I did handover my shares. A year or two later CC still hadn’t completed the takeover and they had to offer $23.00 to cleanup the remaining 12%. I’m hoping Gandel find themselves in the same position! Even if they did, they would only have to pay, in total, about 50% more than they are offering now…still a bargain...….