Firstly, I think reception is shell shocked from all of the calls from unhappy share holders. I was put over to Neil to answer my questions.

1. Is there a fear of majors taking over NOT at these low prices?

(Note: not word for word)

We've had that fear since last September. We do have the White Night clause to bring in other bidders during a time out period should a move be made.

There is renewed interest from the companies that were interested early on concerning Eagle 1. They are now interested in the Chromitite more than the nickel. We are also still interested in bringing in partners to help develop but fewer are interested in this and JPM is involved in sorting out the suitors.

2. Is there any concern over the burn rate and having to look to further financing?

We have $40 mil in the bank and burn rate is still around 2.5 mil per month. Windfall is expensive but at the end of Sept. it will cease to be an expense as we'll be at the bulk sampling stage and we are on target and on budget. The mill also has to be set up properly to do a gravity separation on the course visible gold as at F17 as this gold is lost on cyanide extraction. W.F. is expected to generate cash. (Neil seemed to be quite expressive about the amount and course nature of the visible gold)

We will be looking at finance planning in Nov./Dec. and hope we'll be at a respectable share price by that time.

3. Why would FNC put out a Halt on the news they had?

I won't can't comment on others reasoning but I don't like to put out halts owing to the criticism we've received over it. We've learned a lot since last year.

End of call. I think that's most of it.