Ann: Full Year Statutory Accounts, page-3

Shocking! Insufficient details were provided when the sublease issues were first announced nearly 2 years ago but some shareholders were 'verbally' told at the last AGM that the sublease issues were not material and would not affect Mount Carbine's tungsten operations. What a big lie that turned out to be.

Explains why Jim has been playing down the recent rise in the tungsten price and also why they continue to do so in this annual report whist most other Tungsten companies are ramping up their operations. So much for being a 'shovel ready' tungsten mine.

Also explains why the recent minor jump in the share price from Lithium hype has been sold into particularly by Lanstead.

IMO, serious breach of their duties as directors to keep shareholders informed. More detailed info should have been provided about this sublease issue 2 years ago. If I knew at the time that there was a risk that they would lose their tungsten mining operations, which is their CORE business, I would have sold out ages ago. How many more shareholders would have done the same? Would you, vcr999, have continued to buy more shares in CNQ if you knew that Mt Carbine was no longer a 'shovel ready' tungsten mine? It is now obvious why the company's share price has not been rising in line with the tungsten price.