re: Ann: CQT: Supplementary Bidder's Stat... The HSK bid is only...

re: Ann: CQT: Supplementary Bidder's Stat... The HSK bid is only a take over in name. it is really a merger. I am happy with the terms of the merger since the respective interest in Pajingo is the same after merger.

I am also a big fan of tungsten which has compelling bullish fundamentals.

Given the cash flows been generated by Pajingo, and the current cash balance of NQM, the Convertible Note is not an issue for me, there is sufficient liquidity to repay and continue to develop the assets

I believe the market will value the merged entity at over $200million by Xmas, or 60c a share, with a $300million market cap quite realistic within 12 months



so I am happy to accept the deal.