Ann: Investor Presentation - Brisbane Minerals Metals Conference, page-95

Thanks Pezz, I appreciate and understand that. However I think sometimes it's better to be crystal clear with communication to manage expectations and avoid disappointment for some holders at a later date.

It would be easy for JM to assume all people understand this process but they don't. They way he words it can be misconstrued as sounding like its a done deal and we just pick the best term sheet or deal when we are ready to start drawing down on the loan.

As you know this isn't the case and based on the feedback they will have received on the projected profitability of the business they will now need to optimse CAPEX and OPEX and work on solidifying / improving revenue streams to go back and secure deals...add to this that the financial landscape is rapidly evolving at the moment and there is nothing to say those deals will still be on the table in a few months time.

I'm sure an example most people can relate to is signing onto a mortgage at a certain rate and then by the time the loan application is approved the rate has increased and you wear it (unless you have paid additional to lock at the time of application).

Again not trying to be negative just realistic and balanced.