Ann: Appendix 2A - Exercise of options, page-3

330k into our coffers, so we now have circa 5 million in cash...assuming these are all 3 cent options?

On the other hand there are 16 million more shares on the market that are in the money...will they be dumped into the bids?

You might think 'yes' but I got my shares cheaper than these option holders, and I'm not dumping them.

Overall this looks very dodgy though, promise to start drilling in March very clearly, then complete silence till the second week of April except to ANN a huge number of option conversions.

Looks very, very bad.