Ann: Proposed Capital Raising, page-4

I agree. The company appears to be being marketed to Chinese REE people. I believe the Chinese own the majority of stock in SPX and its representative is on the Board.

The processing report was completed some weeks ago and it was intended to shop it around for third party interest. With significant Chinese involvement in SPX why would a third party take any interest in the project? So it can be assumed that no further studies will be undertaken resulting no further expenditure in that area. The company has already "abandoned" on site resource drilling to sure up a JORC resource.

A portion of any funds raised are said to be for exploration. What exploration is planned if confirmation drilling wont be undertaken? How can any party with any slight interest in REE processing be encouraged to become involved with the lack of any proven resource on which to base processing activities?

In short, on the information provided by the company, who would risk a further $0.004 cents outlay on this crowd? We seriously need more information on the status of the sale or marketing strategy of the company before outlaying any more cash for directors fees.

Granting shares for backdated directors fees will mean nothing if the company goes under so who cares. Give them shares and they may perform to deliver their stated objective for shareholders. At this stage the Board has failed its objective to "deliver wealth to shareholders".