lockett continues on, page-8

Plough

Go and ask Gazzard or Lockett as to what hands on Mineral separation experience he has had. As far as I know it is zero..to my knowledge he has never worked in the heavy minerals production business, certainly not with Iluka, Bemax, Westralia,Cable, Ticor or anyone. My understanding is that he has no minerals production expertise, just good old WA paper-shuffling entrepreneurial skills.

The company needs minerals production skills now and going into the future and for that and many other reasons, so many shareholders who have been around for a while did not want him to continue.

Maybe he will be exited when the inevitable MAL/OLY restructure occurs.