Ann: Copper Growth Strategy - Shareholder Presentation, page-14

It seems obvious to me that they were strapped for cash and this was the best or only deal they could come up with to fill the cash shortfall. They've then offered shares to shareholders. But that takes longer to get the money. I don't think Giles thinks its a great deal, rather, any deal to keep the doors open was worth taking at this point in time.

Bad deal or not, its done now. The question is what do we get from it? If we get enough cash to finalise native title and mining lease approval and pay other bills until PFS is finished and Wanbao make a deal then we'll be sitting sweet. If Wanbao pull the pin then things might get worse.

They are so close to pulling it off. If they do, none of us will care about the Bergen deal as that amount of money will be so insignificant in comparison to the value of a deal. If they don't pull it off and run out of money, 20c will be a high share price.

Giles owns 40mil shares in the company. At 70c he was worth $28mil. At 20c he's worth $8mil. He's lost more money than anyone over the past 12 months. He's hurting like the rest of us. The best way for him to line his pockets is to make the company succeed. That is good to remember.

I was interested to see the sharp spike in price on friday. Someone wanted to get in. Hopefully there is some good news coming
Cheers