Thanks for your post checkfacts. Appreciate the update from your...

Thanks for your post checkfacts. Appreciate the update from your phone conversation.

It is interesting to hear about the 'interest free' loan. I wonder how it will be paid in future by either raising capital / conversion to equity so forth... I would like to know a break-down of how these costs were incurred in the first place? Where they costs incurred from services rendered from an associate to the main shareholder that is providing the loan? If so, are these costs incurred at arms length? This goes back to the transparency of this company and its 'relationship with KMM and its main shareholder'. Unfortunately from my understanding the regulatory regime in this country is not very prescriptive when it comes to corporate governance. Only thing Shareholders can do is cross there fingers whilst they are left in the dark..

I note from the numerous quarterly announcements over the past year or so that the reason for the lack of exploration activity in the companies' tenements is based from awaiting tenement renewal and capital management. However the sceptic in me suspects that the real reason for putting on hold exploration activity over the last year or so was to await price increases in Zn and Cu/V... when the company can better monetise their land tenements by joint venture / farm in, raising capital (hopefully at a better price), or outright sale? My understanding is that Zn has done just that. If you look up the ***** website you can see Zn price going from around less than USD$0.70 /lb in January 2016 to over USD$1.40 /lb currently. Many analysts seem to think the increase pricing pressure for Zn is both demand and supplied side economics...and has more room to run...there has been a lot of commentary on this in the past so I wont discuss any further...fingers crossed..

I think the Zinc rich Pavian Trend is Sabres best asset at the moment. Its lost cost (via DMS), low impurity, less technically problematice open pit resource (at Border which is proven, and moving to Toggenburg). If they are successful at Toggenburg and Southridge, there could be serious tonnage of Zn there too...but they need to do more drilling to delineate this!!

Now that they have the tenement renewal for the Pavian Trend, I would just like to see them make a capital raising and just get on with proving up the resource at Toggenburg (to add to the resource at Border). I would choose to buy more shares to retain my % shareholding in the company...

All IMHO, good luck to all shareholders.

Sutto