announcement, page-15

Hi Yokka

I can understand how you feel.

I also have options and the fact that the company Directors have decided to stop any further exploration work until the exploration permit has been renewed, disadvantages option holders.

Had exploration work continued and good results been obtained then obviously the share price would have risen and also the options. This would have made it viable to convert the options into shares which would have also boosted the company's cash position.

I am very concerned that the options are going to expire worthless before any worthwhile results are obtained.