Email: Important Developments in X64 and PMHI, page-26

We own 80% of MMPRC - which is a X64 subsidiary that owns the mill and is meant to be paid a toll treat price, for processing the gold ore from PMC (doubt that’s been paid). MMPRC is not in voluntary administration! Yes you are right @Sellier this mill should have been turned off ages ago until Raul played ball with us! The laws are not different in Phillipines, I guess the current BOD don’t see that option as being the best idea, not wanting to upset Raul! But I don’t think joseph would want the mill turned off also, would only lose money for PMC! I think turning off a mill and turning it back on is a costly exercise? I’m not an engineer. Maybe they do a deal with Raul and pay him out money $xxxxxxx? To cooperate with them (I do not support that idea) But while that Mill is humming, Raul continues to make money for PMC. The whole thing is stupid really because PMC needs MMPRC! Guess if the mill gets turned off, people don’t eat (5000people plus) I don’t want people to starve! Still don’t understand why new Bod put X64 in administration! Smells fishy! Like I knew they were incompetent, but surly not this incompetent! Maybe this was all planned when they meet with Raul in the Phillipines a few months ago? Anyways I think we need a new Bod to work with Joseph! Will this happen? Time will tell! Cheers ST