Ann: Quarterly Activities Report and Appendix 5B, page-3

Bit of a holding pattern with a lot of it.
- They are hiring for a development site manager, so hopefully they can pay them
- Kitwe looks to have progressed on worse terms than initially expected (yep excuses)
- Another token hiring in the Timis damages case - nothing will come of this - just another, look we are doing something with out any results.
- Nothing on the Offtake agreement, the longer this drags out the further away production will be.
- Some minor news in the other holdings.
- Holding in FEL has dilutes a couple of percent to < 40%. (Down 5% in a year)
- Holding in EUR has diluted 2% in a year (or a 8.5% of our value in it)

Overall - a few pieces of useful information but not deemed worthwhile of their own announcements.
The dilution continues on other assets.