Ann: Response to ASX Price Query, page-25

Agree. A few things people fail to realise in their haste to offload due to BRN response to ASX query.

1. BRN response to ASX price query was & always will be the same - BRN are in full compliance with ASX requirements.

2. Plausible deniabily. BRN absolutely are privy to what will transpire regarding upcoming developments with their partners. Until BRN are officially notified of these developments by their partners BRN are in full compliance with ASX continuous disclosure obligations.

3. Watch the financials. Last quarters income/royalties is a portent of what's to come. Some investors/institutions realise this & purchasing now while others are stamping their little feet & demanding they be spoon fed this information so they can feel secure in their investment decisions. The cold hard reality of investing in the stock market will cause much tears & soiled nappies for this cohort.