Ann: Quarterly Activities Report, page-20

Yo Punt, no need to get all derogrative. It is a perfectly normal situation for a company to enter a JV. Nme benefited in Mct undertaking a drilling campaign and Mct obviously benefited from now owning a 51% stake of a high grade shallow gold deposit. The main problem was after Mct earnt a 51% share, NME had no funds to continue advancing the project. obviously the normal procedure would be for it to contribute half to the ongoing campaign. If Nme can't contribute then the normal procedure is to give up a greater percentage of the venture. Nme seem to think MCT should just pay for everything. So what choice did they have but to launch a takeover. Yes Mct should have done more due diligence about Ken. But sometimes you find out the hard way someone is like you, a Punt. Personally I would like them to sell the project and move on. Nme has no money so they are useless as a JV partner. Maybe someone has some insight how this could play out in the courts. Either way Mct is undervalued and it doesn't take Einstein to see that. The gold is there just a shame Nme didn't go with what was a generous offer. If Nme management think they can do better, by all means go find a buyer, I am sure Mct holders will happily agree to selling it at the right price.