Ann: Sturec Gold Project - Strategic Process Update, page-42

Webinar last Friday:

• Multiple site visits complete.
• Multiple options.
• Current Trans Metal Funds $120,000,000 total bid seems lowball
• Minmetals bidding process putting on price pressure.
• Gold has risen 15% from $2,000 to $2,300 since initial bid received in January.
• Chifeng has almost 10% of MTC shares.
• Multiple different interested Chinese parties attending site visits.
• Decision will be made shortly.

Who's selling cheaply today ? I've come to the conclusion that if Chifeng makes a cash bid, then they will be paying 10% of the cash back to themselves as a major MTC shareholder, so they are probably thinking why not sell a little to try and keep the price flat whilst volume is so low whilst they can keep it down to make a bid have more chance of being successfull....

The danger for Chifeng is MTC then sell it to Trans Metal Fund, so Chifeng better make sure there offer is better than Trans Metal Fund or else they are shooting themselves in the foot trying to be sneaky...