Ann: Reliance on ASIC financial reporting relief, page-47

I think it is just a bluff to shutdown the Mines so that they can recoup the Tax Benefit of 45 million.
It is clear to see that our COP is below the current Ni Pr otherwise there would have been an announcement of
a creditor's recapitalising during this VA instead of us ending with 8.3 Million Cash at hand. During the VA in 2014,
50 million was advanced by the creditor's to keep the mine from liquidation and continue operation. Because of this,
the amount we end up out of 115 Million connotes was only only 65 million because the 50 million was this advance
payment that was used to repay interest on the 400 million Debt plus operational expenses during those VA times.

Now, it is clear that we have sustained a positive cash flow albeit minimal probably 2 million from 6 to 8.3 Million.
There would probably a compromise between MBN and the Local state to resolve the issue being the State paying
not the full amount of 45 Reals but more than what they are offering now acceptable by Mirabela not to Shutdown
the mine. It will be resolved. Our Cop is Low, no doubt about it and it is just a planned relist time by MBN to
pump this sp to maximum. Great research team from MBN HC members pumping us all this news, At least we
know what is going on. Infact invaluable news such as this one from Megagem. Nice work mate.