42% of expenses relate to directors fees, page-3

Hi all,

I have reviewed the remuneration report and even though it appears excessive on the surface I have a few comments to make.

The 2 full time representatives (of our company) include the CEO (who is running the company I assume 24/7) and the principal geologist who more or less made the company with his discoveries.

These 2 parties are getting around $800 K of the money paid to directors.

I fully support that they are well paid as this is the future of the company (peanuts and monkeys).

I only have one query which is around a consultancy fee paid to Jimmy Lee of $272 k, which is not explained. I expect that this is to do with negotiating future sales with his contacts in Malaysia but I am just speculating. Given the maintenance nature of the company this appears excessive.

All other fees as retainers for Directors appear reasonable on the surface, given the caliber of the personnel.

We could ask them to suck it up, but do we want to retain them given their networks, connections and access to markets.

I draw your attention to the capital raising this year where they managed to secure an underwriter for the shortfall of shares offered. (network)

Also you should look at the companies about to falter in the Yalgoon area and the opportunities this may present, do you really want anyone else steering the ship.

Good luck with your investments.