Ann: Placement to Raise $346,000, page-20

Unbelievable. Who would have thought they could take that money from Balogo and turn this company into a useless shell so quickly. What were they thinking? Building a zinc-base metal mine in Chile from such a small base....was never going to happen, particularly with the project they chose. These guys are some of the worst decision makers I've come across on ASX. They don't deserve another cent from the market. What's the chance of the company getting money out of Paguanta? They better be paddling desperately below the surface to figure out a way to resuscitate this company. Given their stated plans for the money, I doubt they can succeed.

"Funds received under the Placement will enable the Company to complete its compilation and interpretation of the recent drilling programs at both the Paguanta Zinc-Silver-Lead Project in Chile and the Kouri Gold Project in Burkina Faso, as well as for administration and general working capital purposes."

That's shorthand for we are going to chew it up on desk studies and admin. (ie take it all for ourselves...again)

Esh