Ann: Investor Presentation, page-3

Gwaidir

What is your assessment now, after the BIA announcement?

Brimstone had a torrid 2015, and so through Sea Harvest this amounts to a significant position by a bruised Brimstone, into a prawn industry that South Africa knows from nothing.

Prawns were once a good Maputo Bay catch, but Australia has more to teach Sea Harvest, than the other way around - I'd guess. Not discounting Sea Harvest's capability and market strength in an otherwise strong South African sea food resource, including Crayfish & Abalone.

Australia is doing some magic stuff in Sea Agriculture, and that must be an interest to Sea Harvest too, and the Barra & Salmon farming successes must be an intrigue? Saldanah & Maputo are largely underutilized resources...

A long bow?

Probably...

The amount of stock external to Brimstone's control in MTM, makes a listing of this size quite expensive. (As a rule of thumb, in my mind a company that doesn't have a regular operating expense of at least A$ 50 m odd per annum, is pressed to justify the expense of an Australian listing. )

So this could possibly be Brimstone's real goal or interest. Brimstone who'll hold any asset type within their coaming? I couldn't imagine a reverse listing through MTM, but who knows? Many small African miners have been quite timid on seeking listing on the JSE, and have preferred the ASX's relative clout. But only in so far as Australia & African mining go, or else Singapore seems the more obvious platform.

So ....

Interesting times.

PS Thanks for your point of view.