Ann: Response to ASX Query Letter, page-33

The ASX isn't bashing anyone, they are just doing their job of holding people to account. Personally that's what I want them to do, otherwise it's just anarchy with liars and conmen given a free reign to do whatever they like. The way this progresses from here is a fine for the company (which, ironically, shareholders pay for) and directors(s) being banned for a period of time.

To say it's not great optics at the stepping off point of restarting a mining operation/drawing down a debt facility/completing a CR placement is a grand understatement.

For the immediate future the risk profile of holding TNC is off the charts. The actions (and words) of the MD have put all of these milestone events at risk. The thing that is most galling is that it was all so unnecessary - a dinky little Sulphate project that hasn't gone well could yet trip up the entire operation - it's just so, so stupid.