Ann: New Cornerstone Investor Underpins Capital Raising, page-4

Agreed, all we needed to do was survive here. Great job by Hugh to convince new investors to keep funding the story which isn’t easy to do especially in this market and given what has transpired here over the last six months.

One thing I will say about Hugh is he is a good communicator and has improved communications since commencing. He seems a lot more convincing in terms of articulating and selling the story here which is a big key for securing funding. However, with that said we ultimately need drilling results to make it work here.

The rehabilitation is an overhang and should be forgiven IMO, why hasn’t the regulator chased the former directors etc, Why did they take all this time to say the company hasn’t complied with a statutory demand, they are useless. I would actually set up a new co and transfer out our exisiting tenements and issue shares to our existing investors. We should then make a formal application to wind up old co (new co would pay for legals and then issue old co with an invoice), due to being unpaid we would be a creditor and therefore can make an application to wind up. The regulator isn’t going to bother chasing the company or directors in my opinion (they couldn’t even respond to an offer to be formally paid and close out this matter. Cheers, CP.