Ann: Quarterly Activities Report, page-22

Having "skin in the game" means nothing without results. Where are they.............. Over $2.5M on one exploration project without any results, development projects without progress, a history of external deals that never eventuate, multiple promises to shareholders that don't happen.

As for share registry it would be better diluted and worth something than its current value. The comnpany is here to explore, discover, develop and mine, not bitterly defend the share registry that maintains director control.

The MD is the only staff member? and responsible for where the company is at. I will say he is very good at disclaimers, internal deals with subsidiaries, and raising enough cash to keep him in a job. Yep the Ukraine is a good project, but you can't just sit and wait on unknowns.

So Gazz...........where is the money going to come from to get the project off the ground? You either dilute, or if your project is good enough, you'll get partners........ and why my previous posts have focussed on getting the project to the highest standards. It is cheaper than dilution........

If you have a bankable feasibility, with a "proven ore reserve" and solid NPV project numbers then you'll attract partners, and your share price will be more robust. With lower standard "mineral resources" and feasibility then its much harder. The company should have done this when first announcing its plan to develop the project many, many years ago, and when it had the cashflow to do it.