Ann: PNG Project Sale, page-50

Hi Bill,

Yes you are right that I should have put in IMO on many of my statements especially the claim that management has got this right. Maybe they have and maybe they haven't. With hindsight there are reasons for everything. That said, it has always been obvious to me that many here have been very influenced following a pied piper poster. I have failed to see where management ramped Tolukuma. They very rarely had any forward looking statements. I'm sure we will find the real reasons for the sale at some stage.

In regards to FNT treating shareholders badly. No I don't agree with that. Shareholders only need to know what the ASX rules require. FNT gave plenty of information about the material work they had done and board level decisions in regards to Lole were never disclosed but everyone here should have known that something was going on. Announcements on road plans to the Tolukuma ML was a give away. The remainder came down to shareholders and non holders research.

IMO what was missing badly on these threads was discussion on realistic outcomes which always seemed to be snuffed out very quickly.