Ann: Rights issue update , page-2

The rights issue stated that GMM attempted to get a 3rd party involved to under write the cap raising with no firms interested. So its not like we think, Fotios took up the offer because he wanted to and for reasons we thought. Mr Fotios had no choice to do what he did. If it wasnt for him we would be dead and burried.

We need major drill news, we need 15-20c and some interest. Like this we can do a raising of around $2.5 million and that cash would be enough for us to survive for 24 months. By then market conditions would have improved and we are out of the woods. This money we raised will not last long and we need something good to happen ASAP.