Ann: Rights Issue and Termination of Acuity Capital Facility, page-108

Painter

"I have only had email correspondence from the Dr and Ross and they came across as genuine people, most on here have had verbal contact with them both, but until now everyone had spoken very highly of them, i see no need to change that opinion."

I agree. Jonathan's please explain email to the group showed he was genuinely compromised and gave a contrite apology. He talked about the BOD putting their money where their mouth is, taking up more shares and delivering positive newsflow in future to deal with this short term pain.

Lock

"We were already on thin ice with the company and now the ice is wafer thin. Everything will need to fall into place exactly for us to survive, let alone make good money."

Sure we've both been pro-management and our trust has been tested yet again. More shares at discount and further dillution. And yes, risk management doesn't seem to be our strength. However, rightly or wrongly, I've always backed exploration and our 'great' geo team (see Ross' email below from last week). Everyone knows the rare odds to snare a jv major - We've done that and are now free-carry in Peru for 4 years.

"I am VERY pleased with what’s going on. We are setting ourselves up for a sustained period of growth and newsflow. I really want the s/p to perform well from now on. I think the foundation we have laid over the past 2 years should start to reap rewards. AND for me personally - what a pleasure it has been to have Jonathan join us! And now with Rob also in the fold, we are a great team. Apparently, me, Rob and Jonathan are called the “Three Amigos” . I would have preferred 3 of the “Magnificent Seven”.

IMO our 'great team' is doing exactly what their suppose to do. Rather than sitting on their hands being risk-avoidant waiting for S32 to make the first moves in Peru and wondering where the next round of money is going to come from... they're honing and replicating their unique elephant finding skills elsewhere (QLD, NT, ET).

And they're doing this at a time when the global economy is going south (banks can't give money away at 0%) and majors are now on the hunt for precious metals and junior explorers like ours... given that they scraped their exploration budget years ago (usually a 10-year cycle).

IMO the time is right to develop and invest in these new projects. Win, lose or draw I want our company to thrive, not just survive.

I suppose I'll just have to suck this one up and take up the offer to average down... again!

Poet