Ann: Proposed Agreement To Settle Cosmo Gold Loan, page-63

Hi GravityWaves, mighty fine research you're doing again. In regards to "The Deed of Sale also provides DDD/the Company with control of E38/2274, and sole discretion to make decisions affecting it and enabling it to determine activities to be undertaken." I will have to have a look at the IPO myself.

They might have control to do certain activities out there and have certain obligations to fulfil the agreement, but they certainly don't have the right to sell it.

I've notified them, the ASX and ASIC of breach of contract, see below:

From The Desk of Michael Foley
Personal contact details retracted

Correspondence date 14/02/24

To Grillo Higgins Lawyers
Level 4, 114 William Street,
Melbourne Vic 3000

CC Ian Hastings, Chairman Adelong Gold Ltd

For distribution to the ADG directors and to whom it may concern in the wholly owned subsidiary Cosmo Gold Ltd

Re Dealings and negotiations in regard to E38/2274 as a leasehold mining tenement and the agreement between 3D Resources and myself dated 02/09/2011 in relation to that tenement.

Dear Sirs

FINAL NOTICE

As you are fully aware, there is a milestone payment of $25,000.00 that fell due on the 18th of May 2023 as a result of the two year expiry from the access agreement point (refer to item/clause 4.1 and paragraph 5 of the agreement).

In regard to this I put you on notice that the said $25,000.00 is to be received by myself no later than the close of business on 21/02/24.

If no such payment is received then, as you are aware, I have the right to resume that share of the tenement, currently owned by your clients, for the sum of $1.00.

If no response is received by COB 21/02/24, I will be instructing my lawyer to proceed with recovery actions and or debt collection proceedings and seeking recovery of my expenses.

Kind regards

Michael Foley


As you can see by my above letter to their lawyers that they are in breach of contract and they really have nothing to sell, and have no claim over my lease.

So now you know why they only did a NON-BINDING MOU with Sarama because of this situation.

Hence Sarama have made no attempts to raise money on my lease because of the obvious.

Typical Hastings and his clowns, smoke and mirrors all the way. I hope this helps please feel free to ask any more questions.

Kind regards,

Mike Foley

PS - If I take a while to respond to any replies, I have to rely on other tech-savvy people to come into my place and write them on my behalf. (for obvious reasons)