Ann: BTR: Strategic Merger Presentation, page-48

KWR have done well all these years to keep the shares on issue to an absolute minimum and we all have to congratulate them on that. The one thing they have done well.

Now they want to dilute the high hell out of us with over 1.5b SOI with a proposal that is not economical at all with our current grade. This does stink and let's hope it is another proposal that is all fluff from this current Management.

I would rather them raise all these extra shares on market trying to have a decent go at drilling to find the high grade rather than blow it on this blow hard proposal.

Greg does have a good record at being useless!

Anyways we have assays pending for remaining RC drill holes from the Pericles deposit at Menzies. Our fearless leader Greg did comment that this discovery was accidental as they were targeting Lady Shenton. That would be about correct as these circus clowns on the KWR board have no skill at all.