Ann: Proposed issue of securities - POS, page-32

The way this was positioned was ‘we have a mine in mothballs, it will take some time/ money to get it on line, that will be done when Nickel price is at a certain level’ that number has come and gone , then it’s all feasibility this, water pumping that, blah blah blah. The reason you would invest was an already existing mine that did not need to be built. Other investments at the time were Greenfields, so all infrastructure had to be built. That has now come and gone, eg PLS, done and dusted, built, operational, selling material. POS? Oh this test, this research, this planning , look at this amazing picture the water line has dropped 100mm, Wow, amazing, time for a nice performance bonus. Vomit emoji. All in my opinion.