Ann: AMEC Convention Presentation, page-13

From memory the Cannon u/g contract signed is passed on to NST. I think they had 12 months to commence this project or the project reverts back to SAU and we keep the cash payment.

I expect that it will get going at some stage and this should provide a decent amount of income that will go towards developing ***ong and Kochang. I'm still surprised to see that SAU has not ridden given BMV have pretty much stated that in just over a year we are likely to have 2 SK mines generating income and Cannon in Australia.

Given that we hear nothing on the other Australian tenements i'm not ascribing them much value at the minute.