Ann: Federation Feasibility Study and Company Update, page-76

I believe they pay off 4.2 million per quarter, not per month. There is no defence for the mess Clifford has created. Regardless of how much good comes from Federation, AMI will never realise the maximum share price it could have pre- Dragues. Money has been spent without the consideration of funding Federation and now we are facing a capital raising that will further dilute existing shares at the expense of long term holders while the market cap has declined to simply unacceptable levels. The only way out now is for shareholders to block any SPP, the company to reduce spending eg reduce exploration to a minimum temporarliy, and fund Federation through debt. The current equity situation might not be viewed favourably by potential lenders, in which case maybe we do a quarter's hard work and cash rebuilding, while taking the SPP off any plans, with the intention of rebuilding the share price. This approach over the short term would give us tine to find a new CEO, and place us more favourably to finance Federation. Of course if we mined some of the rich gold intervals at Federation and trucked these to the best mill we have for processing, we could provide some of the needed funds organically.