Ann: Federation Feasibility Study and Company Update, page-18

Unfortunately this has been a black day for shareholders and hence everyone must question is it still worth holding onto the stock . Based on the presentation it is obvious that it will take many years to turn the company around and unless there is a reversal in commodity prices the company will running at a loss by year's end . Hence money needs to be pumped into the company to keep it going . And for what purpose ? . None at the moment .Come December the stock will be 10 cents . Capital raising stock 5 cents . So why hold a stock around 5 cents in the hope it becomes 20 cents in a few years time .It will be a trading stock with no intrinsic value until it is put out of its misery when someone finally scavenges its few assets . I will be very surprised if there are many shareholders in the green at the moment. Definitely a sell at the moment .Will be jumping ship when I can find a life jacket .