annual report 2011, page-3

Same old same old, and still banging on about "the PNG contract"
Let me just say , "the PNG contract" was signed Aug 2010 and was subject to a deposit within 90 day' of the signing.
The deposit was not forthcoming therefor "the contract" is void ,caput, another Philipine style the check is in the mail fiasco..
MST bang's on about ratification by PNH Parliament which has not happened and seem's like not happening any time soon.
Equally possible and more likely is non ratification, and no binding contract to boot.
Meanwhile more dilution for peanut's as the company slowly drown's in worthless paper.
And another thing, if the Maul is fit for sale to PNG, Why haven't all those other "eager customer's" come to the party with great big juicey order's.. Oh,,,,,,that's right,,,,,,their in the mail ass well..

signed,
totally fed up, Tell.