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Dear All. It is with great regret that we inform you that due to the ongoing Ebola situation, depressed iron ore prices and funding issues between the shareholders, which remain unresolved, the Company has taken the decision to issue termination notices to London based Staff. The Company and Board continue to work tirelessly to resolve the shareholder dispute with SISG. Unfortunately at this time we have no material progress to report. The employment status of employees based in Sierra Leone remains unchanged and operations remain on the current care and maintenance program. Yours sincerely, Kevin McLean COO
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