Ann: Notice of General Meeting/Proxy Form, page-5

Let's face it, they are never going to drill.

They were only ever about buying some time, so they could work on getting the permits, then attracting a JV partner to do the drilling.

It went to 1.5c a year ago on rumours here in Western Australia that Twiggy Forrest and his companies were in negotiations with them on a potential JV in Argentina. The rumour that spread amongst investors and the mining fraternity suggested that Forrest may invest $30 million into LRS. It all fell in a heap, due to Argentina's mining legislation and the slow pace of getting any permits. And who knows if the rumours were ever true anyway, but it sucked me in for a small investment - worse luck.

Gw