Ann: 2014 AGM Presentation, page-6

Hi Matt556 at al,

I did have a considerable shareholding in the old MBN, and was left with only 1.824% after the "takeover" by the noteholders. The authorities in Australia, supposed to police the system, did nothing to help shareholders avoid the foreign "invasion".

Done and dusted, as they say ....

I do not have any shares in the new MBN. Reason is that I can still see the same old problems from the past plaguing the company, and despite new management and board I still see old habits in the management of the company taking place. The new CEO has not made an appearance to let shareholders know of the real issues and what they are doing to resolve them.

I do not rely on management for my information. I get it straight from the horse's mouth, as in people I know in Brazil with good knowledge of the company.

It does not mean I will never again become a shareholder in the company, but the way I see it the entire process is very muddy, hence I do not trust this company and management. There are other good Nickel producers in better situation than MBN.

It is one thing to worry about the "race" itself, and another to not being sure how healthy your 5 year old horse is, despite the "Vet" saying wonderful things from a report he is reading from when the horse was 12 months old. Pretty much what is happening with MBN. The new CEO is reading a report written by the old CEO 2 years ago ...

Good Luck guys! You may need a lot of it with this company.

All the above is my opinion only. DO NOT make any decision to either buy or sell shares on this information. Do your own research before acting on ANY shares.