Ann: Opening of Tailings Re-Treatment Plant at Mt, page-2

re: Ann: Opening of Tailings Re-Treatment Pla... The update whilst welcomed does have issues.

The delay in production would justify the Mitsubishi signing delay given that it appears to have always been the intention of Mitsubishi to test product before signing a "Binding Off-Take Agreement" (albeit we where not told as bluntly as this but rather it was subject to acceptable product and the agreement would be signed soon).

The Risks are:

1) Obvious - can we make product as wanted and discussed with Mitsubishi.

2) Subtle - Mitsubishi change the product required after testing due to metallurgical testing factors and then place themselves in the "Box Seat" to renegotiate a better Deal (including the next phases).

The second point is of a concern as we have had 2 capital raising's, the Tailing's production is just a flee on the dog on a Macro prospective, and we have started production and have all the costs associated however do not 100% know if we can sell the product and for what price.

Lets hope all parties act in good faith and this long thought pricing risk disappears soon.