Ann: Initial Director's Interest Notice, page-2

From the last annoucements they clearly say that there is increased exploration activity.. and that King is going into a FT role with the company.

"The Company wishes to advise that recent progress made in respect to its exploration assets in
Australia and Morocco has led to an increase in its exploration activity"

IMO one wouldn't want to wait til the cash balance drops too low in order to raise funds. The timing of this however is unknown at this stage imo.

Regarding the new NE director.. This new director is a software engineer major?? .... a global investor... who has experience in large multinational organisations? who the internet tells me may work at Toyota Aus.

Yet this global investor owns around $10K worth of shares in this company and now he's a NE director?

"...holds a bachelor’s in applied science (Software Eng) and has been a global investor for
more than a decade, with a particular focus in the resources sector. A qualified and experienced
leader, with over 15 years’ project delivery and management experience in large multinational
organisations..."

Then you have the Chairman who they spruik has succcesful corporate development transactions experience....

"Additionally, the Company’s Chairman, Mr Peretz Schapiro will be taking on a more active role for
the Company, with specific focus on strategy and corporate development. Mr Schapiro is an
experienced corporate executive in the sector with a strong track record of successful corporate
development transactions and value accretive acquisitions for numerous ASX listed exploration
companies."

and King owns no FPO and has 2M in options.

All very interesting.

DYOR
IMO