Ann: Recommendation of Revised WestSide Bid, page-31

In this serious game of chess, this move by the AJQ BOD's will either be a hero move or a villan move.

AEP stated that they are prepared to commit to investing USD $130 million plus to to partner with AJQ on the majority of our tenaments, Then they were prepared to by 10% of the company, via a placement at AUD $0.20cps.

So all up, AEP was prepared to spend basically AUD $185 million to get in bed with AJQ (at current exchange rates).

If AEP offers 25c per share for the whole box and dice that is AJQ, that will cost them AUD $77 million or in USD, $56 million. That still leaves them a lot of funds available to develop the tenaments.

AEP now needs to put serious pen to paper on the J/V agreement, open their cheque book and sign up till death do us part.

Alternatively, AEP could just by the whole company.

If AEP do not act now, the Chinese Suitor will steal away our AJQ away at the alter, after paying bargain basement prices.

Time will show if AJQ management has played this important move correctly.

For what its worth, 20cps is just above my average price for my holding in AJQ but no where near what I think AJQ could be worth within the next 5 years if we proceed down the J/V route with AEP.

In management we trust...........or do we................