Ann: Cyclone Secures Funding to Progress Iron Bear Project, page-14

Hi Beton2

I appreciate your discussion of CLE. However I disagree with this: "The BOD has decided not to cash these in and go for a cash raise instead. The EUR shares must have greater potential than the dilution."

I doubt that CLE had any choice about not selling their EUR shares.

The price of EUR is too fragile to withstand a massive sale on market. It is near to its lowest price for some time.

At present there are 18 buyers for 864,537 EUR shares, and 71 sellers for 7,370,848 shares.

So are there likely to be off-market buyers? I doubt it.