shareholders please dont rollover, page-17

True North, thank you, I appreciate that. Keep me in the loop an di happy to help. I also be writing to the Adminstrator so my response is tabled in the court. See what the lawyer advises. I agree, they will need to do a completely new valuation, Cameco has cut back as has Kazakstan. A whole new set of assumptions is requred. And what i find bizarre, is in the report, they still talk about that CNNC may exercise its option. What kind of "option" is this? Neither the board nor administrator have given any clarity. There is something very wrong here.

• the broader group structure to remain in existence and potential tax consequences associated with a sale of the assets will be avoided, noting that tax consequences may arise under the DOCA scenario should CNNC exercise its rights to acquire PEL’s 75% interest in LHMHL (refer below)