Ann: Results of Annual General Meeting, page-6

Hi I don’t know if the 15% is from the 250m estimate or the new estimate as I didn’t ask. I don’t think grant would have mentioned the capital costs have been lowered if the staged development was going to cost more. He did mention that a contractor has been lined up for the initial phase so he should have a handle on the costs of the project. The cap raise is to get the company through to the next phase , we were told at the agm it would not be for a large amount but no figure was given. Personally I would prefer the top 2 raising this, it’s the cheapest and quickest option. I am sure there will be an opportunity for us small investors to be involved in the finance for the build when the project will be at a lower risk than at present imo