investor update, page-3

If somebody comes to you and says I think you have great assets and I want to be your business partner but I don't trust you so as part of the deal you must hand over complete control of everything to me and forgo any future voting rights to challenge what I decide, what would you say ?

Our minerals are rocketing in price but our shares are at rock bottom. The cause and effect is obvious. If anybody thought this deal was even vaguely reasonable our share price would at least be sitting at approx the offer price but it isn't. People are right to be skeptical and if our fears prove correct thent he share price can only go one way ...... down.

Bin this deal because we have other options. ECE are getting the bargain of the century hear but they will only offer us decent terms if we have the balls to reject this type of grossly inappropriate offer.

ECE want and need this. There is so much in it for them. There is no reason for them to not accept a limit of 40% ownership except for the fact that they think they can get away with having more.