Ann: IP SURVEY COMMENCED AT HORN ISLAND, page-58

and for the record the options that have been issued previously still have a strike price at which the holders must pay for their shares. Often options are offered to management at minimum 1c so the management is effectively near zero. If they have options with strike price of 3c they only becoming valuable if the price raises above that price. So if they exercised their options when the price hit 5c they’d be having to pay $375k for the exercise. If we hit something big and the price rises to 5c+ I’d say the management would deserve to get them at some discount…..it’s cheaper than rewarding them than paying cash bonuses.

someone is clearly playing games with the share price. I think we all know that but who it is and why they are doing it is unclear. It’s been a constant problem for the holders of AQX and us something which is completely outside of the management’s control.

another thing that you should fact check is how much money Andy Buxton has put into the company since it’s inception. My understanding is it’s more than $1m of his own cash.

That’s why he is in the top 5 shareholders list. I do know the AQX board members which is why I’ve invested into the company. I also have several friends who are also substantial stakeholders. We all bought in between 1.5c up to 5c. So right now we are underwater but that’s just a point in time.

we have great assets and I know how much the management team are doing to build value in the company. It isn’t necessarily known what they do behind the scenes but I know they are all working the asses off to get the company to being considerably more valuable. I have faith in these guys. Had SBM not thrown them under a bus with the unexpected withdrawal from Horn I think things would be very different but it was completely outside their control.

I’ve been up to horn island on a number of occasions and met the elders with Andy & Dale. The locals hold them both in high esteem. The feeling is mutual. Without that relationship I don’t believe we would have these valuable assets.

so why don’t you come up to Horn island and see it for yourself. You might be very surprised.