Ann: Trading Halt, page-18

Have averaged down and fully participated in all raisings other than the listing (as I felt that the consolidation of shares of existing shareholders prior to the listing was unfair to those that had supported the company upto that point).

I am a big believer in AKO's prospects and have posted numerous positive comments in the past.

It's not the geology that is the problem.

It's management's approach to ongoing funding and to running things other than the geology that concerns me.

For example, I don't support the management meeting ministers in Magagascar directly as in my view it would be imprudent to get too close to these individuals at this time.

I also feel that Paul's obsession with presenting AKO's prospects to small investors is wasting cash. What has been the benefit to date? Little success in this area other than bringing in some investors that manipulate the share price.

It is the strategic investors that will drive the price up. Will probably be a major miner that sees the merit in the geology and wants in. I think we are now close.