Remain competitive on the African and international market; **riel DODO NDOKE, MINMIDT, page-56

Phil has also been responsible for delivering value to shareholders, a key requirement of a company that decides they want to be publicly listed. He, and the entire management, have not done this, I open the floor for anyone to prove me wrong.

A lot of people miss this and it's downright silly. "Oh it isn't their job to tell us all the things in the background" "they focus on the business, not retail shareholders". Their job is to keep shareholders informed and deliver value, it's the whole point of being a shareholder.

Don't get me wrong, I don't want them to spend every waking hour focusing on shareholders and providing meaningless updates, but the price being where it is, in my opinion, is a result of the management of CAY not doing enough, particularly around honest and transparent communication. Too often have timelines been missed (consecutively, may I add), with no communication as to why, even when that 'why' is positive.

The potential of this project and the company is ridiculous, to be valued at $60m when that's the amount of profit that this project could potentially bring in per annum... and we're supposedly so close to getting the mining convention and the BFS. BUT its because of the poor communication, missed timelines and the lack of trust that the management have created that funds and bigger investors will not invest.

I know of at least 2-3 funds that have decided NOT to invest in CAY due to management. Excited by the project, let down by management.