OGX Shareholders Combined, page-161

I spoke to Jeremy this afternoon and clarified a couple of things that have been the subject of much debate and conjecture here on HC.

Firstly, Jeremy is not a Cartesian representative, he is no longer associated with them and I believe he is representing our collective interests as shareholders.

Secondly, the current Cartesian agreement was negotiated by previous management, the mortgage over all tenements was not Jeremy's or the current board's doing at all.

Now my own thoughts: Joe Pinto owns approx 100m shares - and his avg buy in price is likely higher than most on here - I believe he will fight tooth and nail to get the best deal should Anglo make a takeover bid (that's not to say he, or any of us will get all our money back)

Obviously we are not negotiating from a position of strength share price wise, however we have something Anglo wants, the gold is there, very high grade in Cascaval as evidenced by the rock samples from L6, and we still have all the prospective tenements.

We have been mining on a shoestring using artesian methods. We need Anglo's experience and money to realise its potential. IMO best case scenario would be a JV along similar lines to the original proposed. Payout Cartesian, leverage Anglo's experience and money to generate cash flow and continue exploration.

I would expect multiples of the current share price if this was to eventuate. Obviously may other scenarios could play out, but I am comfortable Jeremy and Joe represent us all and will continue to do so and hopeful that they will be able to realise some value from Anglo negotiations for our collective benefit - no guarantees and still lots of unforeseens and therefore risk (typical for this end of the market).

Cheers, Unc