Ann: Trading Halt, page-25

No ...not Cascavel (that due diligence hasn’t commenced), the earn-in is for the remainder of the tenements we hold in the Faina Greenstone belt. 9.5Mil in exploration for 70%.

@Plext ...it may well work out ...and now is no time for panic ...but I can’t see a major re-rating until we process some decent gold.

I understand that the (very) long connection drive between Cascavel and Mestre was all time and money spent moving rock. We had no alternative to access Mestre’ because of the 300YO Mestre workings and the fact that Mestre is the same mineralisation as Cascavel-but it’s 30m lower.

We are through that and into the Mestre’ mineralisation finally -so hopefully the results should start to flow very soon.

No only do we know that gold is there, but we also know the seam is much thicker in places (i.e. 3.4m @ 38 g/t).

I’m staying positive-because for me there is no point to be otherwise.

I think we need to stay afloat long enough to get results from the other prospects-regardless of Cascavel.

SJB