Ann: Director Appointment/Resignation , page-10

Hi DDzx, you wrote:

"Mick (sic) Young is a success story, geo come CEO, in the Pilbara, where lower grade DSO left overs were picked up.

i am not sure how relevent Mick's experience is to WGO proving up a world class deposit in West Africa"

Just a quick correct on the low grade bit. Post sintering feed at the moment for Bonnie fines (mike's ore) is 65.5% CaFe. 1.5% higher than the fines benchmark ~ Yandi fines @64% CaFe. Bonnie fines is recieving CFR62 because of it's high LOI and low impurities. CFR62 is a benchmark for lump producers generally, and is not meant for any fines producer such as BCI (mike's company). BCI would've been linked to CFR58, which is generally for fines producers, if the BCI product wasn't so exceptional. Nullagine (Mike's turf) was seen as a diamond area only, and no rock samples were ever taken at Nullagine by any majors looking for IO.

I might be slightly biased, but you couldn't find a better operator in the Pilbara than Mike Young. Mike's key in success has been working successfully with individuals where others have failed. Also, unlike most other operators, Mike works on different aspects of production concurrently, rather than consecutively. First hole drilled to production in less than 4 years for BCI. Not even AGO did that. Almost all other juniors listed before Mike's company are still drilling, or they may have done a feasability study and obtain native and heritage. If any junior have all these things, they certainly don't have any infrustructure solution to get their 'stuff' exported... well those juniors left that didn't sellout to someone. Mike's company BCI has been the ONLY Pilbara junior to obtain rail. Once again, not even AGO was able to get a third party rail deal with BHPB or FMG. AGO's been force to shift it's DSO by trucking it on private roads. I could go on but I won't, and I mean no offence, just saying a couple reasons why I think no one should under estimate Mike's abilities.

DDzx, I don't think the important thing about the resignation was for it to be a debate on whether Mike or Terry would be better in taking WGO through to production. There was a much more important thing that could've been taken out of the resignation.

Bye, hope you have a good weekend.