Dear Shareholders,

Red tape, or what poses as red tape, continues to  frustrate our attempts to fly our client’s mineral assets from Africa to the appointed location for refining, disposal and then utilisation. We will continue to try and resolve this issue.

Happily, Government offices in the Pacific have reopened and our client has flown there to ideally facilitate the removal of his similar assets in that country to an approved refinery in our country of interest with disposal to follow. We have been waiting for this for some time and would hope that compared to the above, this exercise might be relatively straightforward. As you are aware this puts our client and Britannia’s Gold back in the planned area of the Pacific salvage.

We will provide further information as it becomes available.

Kind regards

Philip Reid