Ann: Completion of Placement, page-9

Well, I am al tittle disappointed that retail did not get a crack, and I am surprised results were not released to boost the VWAP price and if they had to raise it would be higher. I guess the cashflow from gold has to be initiated through a DFS and if the scale of the project at Steam Engine is determined to be much larger, then I can wear the pre-emptive strike. To date costs have been minimized and directors payments are low by other company standards. They have a lot of skin in the game, so logic tells me they are betting on growth of the resources. Bit like Angelus, time to put it behind and see what the working capital can produce in more gold, nickel and copper. I guess the cash was too tempting to put on hold when the markets are nervy at the moment.