Ann: UPDATE ON REFINANCING PLAN, page-20

I made a lot of money out of SRL. Sold out and only came back within last 12 months where, like many in recent times, i have picked up a lot of shares for not much. I think I am the 9th largest shareholder in SRQ.
Forget other posts in my name other than SRL and ADA. My son's exuberance were in the other posts.

As an investment, SRQ would be deemed a risky proposition. I do not mind being a contrarian and I picked up SRQ on the belief that a refinancing/restructure would take place coupled with an improvement in the copper price. That is still sound, I believe, as I make these comments. But there has to be a price for bad investment decisions of the past hence why there is limited trading in this stock as the rational investor would be worried about company folding or a very heavy dilution taking place. Given my average price is around 0.0045 I was prepared to make this gamble but it is a gamble. Management of SRQ believe it has a sound future, as do I, but for existing shareholders it is all about how much we have to give up for survival. My entry price gave me some headroom but I could lose it all if restructure does not happen. I think it will survive and an announcement on indicative T&Cs will happen in next week or two. Do not be surprised if another investor bobs up in the middle of all this to assist in long term future of company.