Ann: District-Scale Porphyry Cluster Potential at La Verde, page-39

Starting with the CEO, a lot of people don’tlike him… <water> they don’t have any way for meto value this water asset yet… my knock on Hot Chili thus far is the middlinggrade… what I see missing here is the HGSP… I think it’s likely they find it…but I haven’t found in there the 50 or 60 million tonnes of 1% or 1-1/2%copper… if they answer that unanswered question you know the stock is gone, iteither goes up or it gets taken over

Then at 54.40 RR same video discussion at theend on Hot Chili (verbatim) "some of it I answered parantheticallyif they aren't successful in developing a starter pit then time value of moneyeats you up that, you know you add more to your sea of mid gradecopper without being able to advance it to commercial production, wedon't know what their seawater concession is worth because we haven't seen itis, is it worth a dollar is it worth a billion dollars, you know I understandwhat could go wrong there you know and I'm happy to talk about it