No Lazarus here...... Tel: +61 (0)400 756 628 ABN 54 156 369 336...

No Lazarus here......


Tel: +61 (0)400 756 628 ABN 54 156 369 336 [email protected]
www.torquemining.com.au



26th September 2016

Dear Shareholder,

It is with sincere regret that I inform you that my co-directors, Graham Fish and Denis O’Neill, and I will resign as Directors of Torque Mining Ltd in the near future. Torque, in our opinion, with the placement of joint venture partner BCD Resources into Administration, and the failure of the Stormont Mine to provide funds to Torque as anticipated, is probably not now a “going concern”. We, with Frontier Resources, still hold title to any further mineralisation beneath the Stormont Mining lease, but in out present circumstances this is impossible to follow up or attempt to explore.
Torque has approximately 3,500 shareholders but only about $2,500.00 in cash and no obvious means of raising funds and thus staying in business.
If any shareholder wishes to become a director of Torque or believes they can resurrect Torque please let us know immediately as email addresses and the Torque web site will cease to function at the end of October 2016.
This letter is only going to shareholders with email addresses. We do not have the funds to mail it to all other shareholders.
Thank you for your support in the past.
Yours sincerely,

R.D.McNeil
DIRECTOR

Not unexpected, and at least there is now some certainty. A disappointing saga., though Bob did what he could
in trying circumstances. (don't normally comment on stocks I'm not holding, but held FNT long time previously and had a Torque entitlement).

Have a nice day.