Ann: Quarterly Activities Report, page-5

For those loyal CNQ shareholders that have watched our shares drop from 15 cents when the bottom fell out of the Tungsten market.Remember why you bought in in the first price,with all the military action going on around the world it is great news for the Tungsten market.We now have a more proven Tungsten resource in our mine than when we originally bought in, the Tungsten price is heading upwards.I believe CNQ is now one of the most undervalued company's on the ASX you have had every right to be critical with our current share price.But moving forward CNQ is now in the best position and the most exciting period in our history,money in the bank and four projects on the go, so as our share price starts to head upwards 2,3,4,5,6,7,8 cents.If you are still sitting on an average buy in price of around 9-13 cents you are still going to be disappointed and negative until our price reaches your buy in price.While new shareholders buying in at 1 cent will be very excited making 100% with every 1 cent price rise, this can amount to huge returns. SO REMEMBER IN 6 MONTHS TIME YOU ALL HAD THE CHANCE TO BUY SHARES AT ONE CENT. Note none of our top shareholders have sold any shares the 1 cent shares are from a new shareholder who got probably got in at the capital raising. D.Y.O.R . CHEERS