Ann: Bekisopa Scoping Study, page-22

I didn't really rate the new presentation, and I will be in contact with Paul to share some ideas.

The biggest issue is he is unable to talk about the value of the "Green Steel zone", or the larger magnetite resource because of the inferred status.

I don't think we need to drill out more inferred tonnes, but I do think we need to prove up more measured or indicated tonnes so we can put an actual value to those resources.

With relation to new investors, we don't actually need that many... I think $500k of new investment could shift the needle, but in saying that I expect there are a number of frustrated holders who are looking to exit when the share price ultimately rebounds.

At one stage there were about 1.25m shares available on the sell side the day of the Scoping Study announcement. There are 400k shares available today, so a bit of supply has come back on.