Tranche 2, page-26

I agree with Navy that shares issued for payments from Tranche, 1,2 and 3 cannot be issued until after resolutions have passed at the Feb 19th meeting, however payment of Tranche 2 was still due Dec 31st and Tranche 3 is due Jan 31st.

The only reason I can find that Tranche 2 may be justifiably late is the terms of the market offtake agreement are not yet finalised.

"A Market Off-Take Agreement whereby China Success agrees to purchase high grade concentrate from the Norton Gold Mine for the first 3 years of its life, including assisting Mantle to target enhanced production rates.The overall commercial terms are generally in line with Scoping Study assumptions and --the agreement is to be finalised as a condition precedent -- to Tranche 2 and 3 payments."

It would be good if the company clarified this.

Dapper - I understand your thinking but I agree with Vertigo. You cant really dig and process gold with only a portion of the money necessary to do so.

PP