Ann: Mineral Hill Operations Update and Funding Arrangements-KBL.AX, page-20

Initially Quintana were expected to get their money back in 4 years, so I dont think they have got close to 50% back yet. If KBL folds, then they have security over Mineral Hill and Sorby Hills, however does anyone know Quintana's track record ? Do they support or do they double-cross their partners.

As they have 3 appointed directors they know what is happening, but as directors of KBL all directors have a responsibility to KBL shareholders and at board meetings Jim Wall as chairman has a casting vote; this protects shareholders as Jim has plenty of skin in the company both shares and 38c notes. Jims investment is far more than anything he has taken as salary over the years.

Shareholders best scenario is for KBL to persevere and get out of this mess. May's production report should indicate if this is possible and from this shareholders can judge whether to support management.

I wait for a production update.