Ann: Appendix 3B, page-47

Jeez this credit note business is the go if you're a loaded bored tycoon .... double whammy better than buying shares like us blokes, you get a fast buck with heaps of profit and options ...... this one was a no brainer for Arena I feel as what other mining companies have such a rigid timeline to sell their product ... a deadline auction date WOW. Certainly for the note holder the price after auction is the unknown ... the price prior is just upward. The lowest VWAP for the 20 days prior, damned killing they're making!!