Stratmin Meeting 7:30pm 29/07/2016, page-16

Thanks for your reply, some comments :

1- I will reverify the cash flow statements, the 600k$ received from liongold arent very easy to find, and i dont see why they suddenly needed to borrow 480k$ eventhough their cash burn was relatively low at 250k$ per quarter and they had more than 100k$ last quarter. How they eneded up needing this amount of cash in the space of 3 months, where did they spend the money ?

2- my understanding is that the speeding ticket and halt of the trading was asked for by ASX, it wasent the choice of Bass. I disagree that Bass wanted the halt, to the contrary Bass management would have been more than happy to end up at 6cents instead of 3c, in both cases the capital raise would have been done at 1.2c (they were finalizing the capital raise when they released the pumpuous presentation). The mystery is : why pump the price 24hours before announcing an already finalized capital raise ? it didnt make ANY SENSE, the pump benefited those in the know (that the capital raise is being negotiated at 1.2c) it allowed new investors to get in (to acquire the rights to participate) and old investors to sell some stock for profit.

That is why i said that bass management were lucky they didn got investigated by regulators for price manipulation and insider trading, what happened IMO was borderline illegal, what saved them IMO, was that they INSISTED in the speeding ticket query response, that the presentation WASENT PRICE SENSITIVE, and all info was already available to investors, which from a legal point of view is TRUE, but from a practical point of view, we know better that a SHINY PRESENTATION with PUMPUOUS LANGUAGE is far more effectivee as a marketing tool, than hidden phrases in a regular news release. Why they didnt release this presentation at least a week before the capital raise, pump the price up and get the capital raise at 2c instead of 1.2c ? or why not release the presentation at the same time as the announcement of the capital raise ? why 24hours before the capital raise ? this mostly benefited people in the know.