Ann: Initial Director's Interest Notice, page-2

Short Director position. I suppose leaving with 5.2m shares (in escrow for 24 months) is not too bad. The hope is they are still worth something when they are able to be sold. I see no personally held shares in direct name. I think that could be around 35m shares held in escrow but its a long time to hold a share price afloat unless they manage to get some reasonable results. very difficult to capital raise with share price already off over 40% from recent high point. sadly many companies in this position at the moment. The pending stock market crash would wipe many out real fast. Very difficult to find value anywhere. I see even BHP from recent high of $54 traded under $40 on Friday...,and they have good projects