Ann: Annual Report to shareholders-QBL.AX, page-41

I'm not going to comment on the Jewish suggestion. Their religion has nothing to do with anything.

They don't actually have any real skin in the game.

They just move assets between companies they are directors of and use shares to pay for it. Diluting shareholders along the way.

AGV/QBL, Volcan, Plateau bauxite - QBL aquired the Bauxite assets from Volcan and Plateau for millions of shares, then you see a pump which they can then sell the shares into and then throw a CR ontop of it all.

AGV/QBL handed a sapphire mining project to Volcan in which Volcan were meant to pay $1.2mil within 24 months. That payment is yet to occur.

I find it odd that Volcan can participate in 2 CR's over the last 2 years for a total investment of $808,500 but management think it's in the best interests of QBL shareholders that Volcan don't pay the $1.2mil they owe to QBL. Do you think it has something to do with the fact that they are directors of both companies?

If AGV/QBL had sold the sapphire mine to an independent 3rd party, do you think they would be letting them off so easy?

Also, of the $1,203,630 expenses incurred during FY 2016, $1,008,365 were for services provided by AMGPL - A company owned by Pnina.