missing millions, page-9

Tim-where? It went most to fortitude.
Contractual obligations to Angolan partner, Endiama-4.8 mil. Licence fees renewal-8.2 mil,
Directors and consultation fees to related parties-roughly 1 mil
20.85 million in aquiring the 79% of Glenvale Associates from Cityview
3.5 million in work on the licences including geological exploration
1.7 million in administrative costs

The 20.85 million is the most interesting part. They say bought Glenvale from Cityview for 20.85 mil. THEN, on page 15 of the fortitude annual return it states:

"Included in the debtor balance OWED TO fortitude are the following amounts: 20.85 mil to ZEBRA COPPPER to permit the aquisition of the 79% of Glenvale" (what the fun? I thought it went to CVI?)

"10.8 mil to ZEBRA COPPER representing loan facilities extended BY fortitude from: Proceeds of shar issues, Loans made by GIS, payments on behalf of the company." (what the fuuunn?)

Now all that SOUNDS LIKE A MESS to me. So answer is, the money is all over the place, and some of which can be accounted for, but you can see why Ashings made a qualification. What happened to the 20.85 million MS?

I hold: options only.