Ann: Letter to Shareholders, page-28

I don't see anything positive in giving management another strike at this stage of the program no votes against are going to quicken the SMS final feed work won't change the EIS for the refinery or the MMP time frame approval the key path to production is laid out in front of us long suffering holders and yes we would have loved to be in this position years ago but that is the past do we really won't the future talking 2020 to kick off with a rebuild I for one am against slowing progress down ourselves agree with master I don't know if PB is our best option but with all his contacts he is at present it is his baby and I believe we are in good hands with SMS and the Germans