Ann: Accelerated Non-Renounceable Entitlement Offer Results, page-14

There has been slight mention of a couple of potential issues in recent announcements. They briefly touched upon the need to compensate residents of the mountain they want to chop off the top of to build the refinery, saying there is a Vietnamese Government department in charge of that type of thing and while there have been approaches from a small percentage of the residents to the Company, some of them are feared to breach the corruption laws in Vietnam. Hopefully appropriate DFAT advice is available via the Ambassador in order to assist our MD in negotiating this difficult (for some) terrain.

Sometimes communities also prefer mining to be underground, not a more unsightly open pit scenario as BSX is proposing for the low grade disseminated sulphides. Perhaps we would be mining yesterday if we just focussed on the MSV's and processing them through plant the Company already owns, refurbished and started up a couple of years ago. How would the permits have progressed for those MSV's if we weren't also considering an open pit?

The only reason we are valued at such a low price which doesn't reflect the value of those massive sulphide veins we are in a position to process immediately is because we have no plans to do so. We're still flogging that dead horse of an open pit mine and a refinery that the local people don't seem to want to move for, on the compensation the Company is currently offering them. That's my assessment anyway, going by this info.