Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

Interesting to note the company has highlighted they are evaluating various acquisition opportunities, I bought in initially for two reasons, the cash on hand relative to the overall market cap and the potential acquisition of the Delfin project. My downside was protected in the event the project didn’t go ahead with their level of cash on hand, for example we have 17.1 million cash vs circa 19 million market cap. My cost base is 3.9 cents so I am not too concerned in the short term but the next move this company makes regarding acquisition will depend on whether I divest or hold. Good luck to all, cheers CP.