Have just read the quarterly and re-read the ann regarding the...

Have just read the quarterly and re-read the ann regarding the Danusa farm in and the MOU.

Has any one else noticed that there are no definitive terms outlining exactly what equity Danusa will earn for various levels of expenditure except for a rubbery 80% for an expenditure of UP TO US$10m over 4 years from the MOU.

Or

From the Nov ann:-

"Danusa may fund expenditure of up to US$1,500,000 over the next 10 months for the First Stage of exploration and has the option to continue on to the Second and Third Stages of exploration within a total timeframe of 30 months."

How much equity do they earn from First Stage and what is the minimum expenditure required to earn it? Is it $1.5million or $500,000 which is afterall "up to $1.5million"??

How much equity for how much expenditure in stages two and three?

Does the agreement only cover the epithermal veins or are we chucking in the porphyry potential as well?

I think it is time to remind management that this is the shareholders' asset they are playing with and we have the right to be informed.

Also, where did the $500,000 appear from, does this count towards the $1.5m earn in and what plans are there for this little windfall?

Come on fellas it's time we demanded that they stop treating us like mushrooms.

MG