Ann: Share Purchase Plan and Placement Results, page-16

I keep saying it since many months - the company needs to stop the downward spiral of the SP - that must be the most important goal. Just working on a mining plan is not enough - and the market agrees. We are late but we need, for example, exploration projects (many developers have/keep parallel exploration projects - for good reasons)! Dilution will eat us before we get even close to mining. Sam must be frustrated as well - his performance shares are also out of reach. Nobody can be happy with this situation. Why are we just continuing with this negative pathway? There could be additional options I guess - JVs with other Aussie PGM developers, to diversity their risk for example etc... our SP action over the last 12 months, almost a ten bagger (but in the wrong direction):