Ann: PNG Project Sale Update, page-18

Hi GD.. My reading of this png update ann is that LNR is keen to adhere to the initial agreement and to get out of PNG, rather than to negotiate a better (and fairer imo) price for the sale of all of FNT’s tenements. I could be wrong of course and their use of the word “buoyed” might just be slippery rather than sincere. And since they have extended the agreement once from July to Sept 28, could they not as easily extend it again so that all conditions can be met … Just my thoughts.

From the update: ”Whilst the Acquisition remains subject to the satisfaction of certain conditions, including Tempest shareholder approval and completion of a capital raising, the Directors are buoyed by this progress.”