S32, page-2

Great, mapping surveys and target acquisition funded.

Then option 1 exercised by S32 and inca retain 40% ownership in the short term then option 2 exercisesd by S32 and in a only retain 30%.

Yes S32 bring money and grunt but I feel that we have given much away. Need to digest further. We just have so many bloody shares on issue.

As I said still digesting but perhaps this thing is going to be so big that it won’t matter in the end and we will all get rich anyway.

Luke