AGM Notes, page-34

Jace, over the past five years society has become the want it now crowd. Information is excessive and results are immediate. Not saying it is bad, but it is very different. This is clearly shown by SPL share price in 2012, back then price grew steadily based on the potential of the company. Today, that is not enough, it grows on the ability of the company. SPL have certainly done both and still have both. I almost feel that we are further transitioning to turnover from ability? So us old school investors will naturally buy at an earlier stage where we see potential. The earlier you get in, the more you can make. The risk takers are harder to spot.