Ann: SPP Offer Document, page-21

Are we willing to open our eyes and dare to ask why they are raising capital now when they 'don't really need it' at 6c? Let's be honest, you don't do that because you expect the share price to go up before you do need the money. These dots are very close together and easy to join.

You also don't give away 10c options if you expect the share price to scream above 10c in the next three years. If it does go above 10c we'll see new shares being dumped on the market from sellers willing to take anything over 10c, putting a cap on the price.

Doing this now also gives a big clue about when they expect to get the >billion dollars they need. You don't play these CR games which harm the share price to raise pocket change you don't urgently need if you expect a giant pile of money or something to boost the share price.

Some people will attack me, I know you get no love for speaking the ugly truth, but some of the same people attacking will be ones who also attacked me for successfully trading this in the 20s and teens when I expected it to drop, and who ridiculed me for being short-sighted when I completely sold out for over double the current price, accusing me of being short-sighted.

I don't believe I'm short-sighted at all, I see a good chance of success for QPM, and between now and then I see years of losses, frustration and heartache from holders through multiple delays, need for capital, probable cost blowouts, etc. I'll likely buy back in for a fraction of the current price in 2-4 years, and watching from the sidelines is so much nicer than enduring years of frustration, losses and resentment at management. Even if I was 100% sure of eventual success (which would obviously be crazy), I wouldn't be at all tempted to be a holder at this stage.