Ann: Appendix 3B, page-127

Stevo. Can you please explain these comments from your post yesterday.

'Blitz the failure is NO FUNDING.......You have been told numerous times and its a fact...after years of trying and as of today NO FUNDING...not even in the junk bond mkt... hence a bridging loan from investors was necessary (which expired yesterday). The board has stated... funding is tough to get. The board does not make a statement like that to the mkt lightly...... they are telling you something.......Now they will have to renegotiate the bridging loan and If that funding doesn't turn up, then there is equipment manufactured, earthworks.... all done in advance of funding..Geez its gonna be a mess if finance doesnt eventuate. They will be desperate to take any finance terms to keep the project afloat.

If that is not failure to date, I don't know what is.' NLN.