Ann: Quarterly Activities & Cash Flow Report, page-73

The frustration is understandable, i am still a top 20 holder and the "rewards" after three years are not enjoyable. The Epanko Mine has still a big potential - but Spinks had enough time to finance the project before the new regulations enter into force.

The most pressing point therefore, is whether the regulations are the last open issue or has KFW/IPEX more open questions?

I did not receive an answer (contacted Spinks and Frey) from "Management" about my request.

It was a huge fault to allow that people to get Shares for "0". The result was a disampowerment of private Shareholders.

I see two opportunities - funding within the next 3 month or a sale of the Epanko Mine.