AKO General Discussion, page-372

I spoke with Paul today.

I was a totally unprepared when he returned my call so I was a bit all over the shop with relation to my questions and remembering his responses verbatim.

Anyways, here goes.

He said he was in the UK and Madagascar recently.

He said he was in the UK to speak with potential investors, and I'd also imagine he may have met with Wardell Armstrong on the PFS scope and logistics.

As for Madagascar I would imagine he was working with the local Malagasy team and partners on preparing for the upcoming E.M. surveys and drilling programs.

I forgot to ask "Why Tratramarina?"

I also asked if he and the other directors were able and willing to participate in the raise and he said "oh yes, absolutely, definitely".

It is great to see these guys put their money on the line with the rest of us.

I also asked about the funds from the options and what they'd be used for the PFS and if we even NEEDED to do BFS before going mining, or if we could skip the BFS and go mining once the PFS was completed.

He said something along the lines of:

"That decision is ultimately up to the board and will be based on our understanding and confidence to make that decision. We would need to be able to secure funding with the information we have, and we do not currently have anywhere near enough information at this stage to make a decision."

So nothing really in that response, other than I guess it's an option they've thought about, and I've expressed the opinion that a few of us here are as our preferred path forward.