Ann: Non-Renounceable Rights Issue to raise $1,011,145, page-79

Yes, you are correct that I already new this quite old news I assumed you had already taken on board: a comfort letter from Govt to assist

BCL in pursuing normal commercial paths to maintain themselves. The Govt had already directed BCL to approach the bond and

other normal commercial options. Of course we are getting a smorgasbord of mixed messages from the various ministers and the

company as one would expect in this type of fluid ongoing saga, including Mahupela's comment that trade people had been given

comfort that they would be covered. Doubtless each person will read into the signals what they will.

The two main questions, as I see it, remain unchanged.....will the Dept reissue the permits to BML, i.e.will they do the 'right' thing,

and the Ni/Cu prices both of which have recovered albeit only a little. The result of WP feasibility study is another. One way or

another, whilst taking the normal steps prudence dictates to protect my investment, I will most certainly NOT be loosing sleep over

the outcome....que sera sera.

Have a nice day.