Ann: Investor Presentation International Roadshow, page-20

re: Ann: Investor Presentation International ... Hi SBL, I've been out of action for a while (hospital, etc), and lost touch with the MLX/WGR/MUB situation for a while. I sold out of WGR but held onto MLX, but it looks like maybe I should have sold them too - tin price way down, WGR SP sliding, MUB suspended (9 days now for failing to report. What's going on there? Surely MLX would have put the blowtorch on them by now).

As you've mentioned, the failure of the ADN split probably set back the Rover plans, but if MLX/WGR were serious about speeding up the Rover project, MLX could have made a bid for the whole of ADN, including the Yorke & Eyre Peninsula projects, and put together a deal with WGR to fire up Rover. I think there was some suggestion of using the ERM plant to the north of Tennant Creek for toll processing the ore, but I'm not sure about the cost effectiveness of hauling the ore there from Rover.

I'm tempted to have another bite at WGR, but would like to see some real progress towards production.

Cheers, Mike