Bunter, Ican understand that you have built up frustrations, we...

Bunter, Ican understand that you have built up frustrations, we all do sometimes but patience is required in the world of investing. Quarterlies are not where the type of announcement you were hoping for, are made. I suggest that you and others settle down and count up to ten,,,,,,,

Merch andWaver,,,, perhaps the two of you could do the same

Nothing haschanged from what it was before this Quarterly report was issued,,,,,,,,

Nothing isworse,,,,,,

There arepositive announcements,,,,,,,

· e.g. - Discussion is underway with an Emerging Market Fund as analternative or Co-Investor which is a second string to Minbos bow and creates a competitive situationwith the Sovereign Wealth Fund. I am sure this will please Merch no end becausehe has stated many times that we / Minbos will be held to ransom by theSovereign Wealth Fund / Government. So this is a new very positive move by our Company.

· The present Grupo Carrinho MOU is described as binding which I had not realized previously.I’m not sure if others were aware of this, but it certainly dispels recent fearsthat have been expressed, not that I had any concern over this. During myrecent visit to Cabinda, I felt very comfortable after talking with variousMinbos Management Staff about converting the Carrinho MOU to an Offtake Agreement.The saying – The devil is in the detail could apply. i’s need to be dotted andt’s need to be crossed.

· The Company has engaged with the IDC’s Legal and Commercial teams in aNormal securitisation process. This is a logical positive step in preparation of necessarydocumentation whilst the other conditions precedent are put in place.

· The project team have commenced investigating expansion options whichmay be incorporated into Phase 2 of construction. Reference is made here to potential offtake customers( PLURAL ) in South Africa

· Bulk Sample and Site establishment. I witnessed this when I visited the site, butit has not been notified before. It is pleasing to note that the miningcontractor has mobilized some equipment to the site for the bulk sample. It isalso pleasing, for those of you with a technical eye that figure 2 demonstratestidy pit design excavation and stockpile procedures.

· Haul Road Rehabitalisation A necessary early works procedural step ahead of mining and hauling.