Ann: Quarterly Activities Report and Quarterly Cashflow Report, page-26

Never saw this coming!!!

Boy, do I have egg on my face.

CAI caught the Beatons/Nullagine falling knife (knowingly) from Novo only to get the $14m from Atlas.

What a steal, what a deal, 2 operating centres and a home for refractory ore, a spoke and hub centre that no one else saw, all hail the genius of DR….and all of this for essentially free. What A Deal!!!!

That’s if you don’t count Beatons Creek and it’s liabilities as being the second coming of Bre-X…just a casual $48M, the care and maintenance costs of Golden Eagle, the holding costs of the additional tenements (about $3m p/a). But other than that, an absolute steal for free!!!

Atlas would have bought Beatons/Nullagine and the Camp for “free”, but they are not that stupid. $14m for the camp over three years is a steal for Atlas and non of the liabilities….let some other Chump take the fall - enter CAI.

If CAI didn’t do the deal from NVO, with only the benefit being the $14m from Atlas for taking the pineapple, they would be in administration as we speak.

They will need to raise money sub 10c (only if they can) or administration it is.

No one will touch them from an M and A perspective now because of the latest and greatest deal of “acquiring” Beatons and Nullagine.

Shame on them for releasing the quarterly late in the afternoon before a long weekend. Shame on them for hiding the only material number ie AISC 2-3 pages into the announcement.

Still embarrassed for not seeing this coming…or was it mentioned?