quarterly activities, page-16

nozza if you read fully all announcements you will see on page 89 in the annual june 2012 report , and i am sure many haw holders do not want to read this but below is a part of what is in the report


Exploration and evaluation expenditure 4,325,222 1,083,524

Legacy earned the 60% interest in the Mt Bevan project through the expenditure of $3,500,000 on
exploration to a pre-feasibility stage. The Mt Bevan iron ore project is now proceeding as a jointly
managed programme through a soon to be formed joint venture technical committee. Further
contributions in excess of the $3,500,000 minimum are to be shared in proportion to the participants’
relative interests in the project. Legacy is expected to be reimbursed for 40% of the expenditure in
excess of $3,500,000 however at 30 June 2012 this expenditure had not yet been validated by the
other joint venture participant as approved works. This 40% reimbursement has not been brought to
account at 30 June 2012 and accordingly 100% of the expenditure had been booked as exploration
and evaluation expenditure.

fact are facts and as LCY not making an issue of this until this date means that there have been discussions imo between the 2 parties as i could not see LCY forgetting about payments owing to them by Haw imo