Ann: Completion of Disposal of Paulsens East Iron Ore Project, page-6

$7.5 million in cash and $18 million worth of LEL shares giving assets worth a combined $25.5 million or roughly 9 cents per share (not even counting our 80% stake in Apurimac).

The fact we are sitting at less than 5 cents per share is an obvious reflection of the markets faith that management can actually do anything constructive with it.

Hopefully management have been investigating getting Apurimac up and going again already and haven't just been sitting back waiting for this to play out (though going on past performance I kind of doubt it). Plenty they could have been doing that didn't require lots of capital such as at least asking questions and making enquiries to offtakers and service providers.

Though I certainly didn't agree with them getting their stake (and certainly not for the consideration given) perhaps now that JEL own 20% of the project there might actually be someone there with an interest (other than pesky shareholders who can simply be ignored) to try and actually get this happening.