conversion or default, page-13

I don't know Gandal...one would think he would have some integrity? A1 if you look at the intervals we should beat 5g/t hands down. The Board is a shocking state of affairs..perhaps explains why Squadron's guy departed and they took their money...the timeframe now till the end of the month and the extension has become impossible to meet. Yet again a failure on the corporate level. Is anyone out there prepared to stand for election to the Board or is it just too risky to be putting one's neck on the line given the current circumstances? You're right sainters..the future is built on a lot of hope...not much information, suspension since june, non-compliant Board..hope is about all that is left if anyone has any of that...I still say they'll have difficulty finding any truly independent person willing to put their name to the CR being in the best interests of all shareholders. We've had no notice of a change of intent so one must assume it is going ahead. 

Rather than asking questions at the AGM, which we know will get fobbed off, why not put some resolutions; here's a few suggestions,

1. Nominations for Board.

2. New Board chair.

3. Disclosure of a budget/perhaps appointment of a chief financial officer accountable to the Board. I assume we are stumping up for airfares and accommodation for the AGM...absurd.

4. Requirement for a monthly brief activities report...read as better communication, until such time as we have two successive quarters of net profit.

5. Reduction in management salaries to be brought in line with the value of the company.

6. Kick the current loans into touch,and no more deals with major shareholders. 

This isn't about how well we are mining. It's about accountability at Board level, and executive positions...accountable to who...oh..possibly the shareholders..who as little as a year ago stumped up more cash, and since that time we've earned $20 mil revenue, and have managed to be in dire straights. My hope has vanished, until a new Board is in place.