Ann: Carlow Castle Update and Proposed Capital Raise, page-26

I don't agree, I have much more faith in this administration than the administration of the past. As soon as they became aware that the new resource upgrade was not going to be as good as they had anticipated they cancelled the CR. If they had not cancelled the CR then the institutions who were very quick to take it up in the first place would have been furious and would not participate in any future CR's as they would not trust them. By being honest and cancelling as soon as they were aware I think they have preserved their integrity for any future CR's. Lets wait for the full report which seems to indicate that there is a resource increase for copper, which at today's prices can only be a good thing. In addition don't forget that there is drilling happening by others very close to Apollo and that we will be drilling there soon as well. Fingers crossed for a better result there than their first drill at Paterson's.