zombie companies, page-2

Hello Flyboy, I don't know why the content of our emails was moderated. I did not think we said anything offensive and there were no "adult" words. Certainly, if someone took offense I apologise as none was intended.

I have a strong sense of frustration in regard to TMX. I am confident that Bundarra has commercial potential having checked my potential cash flow figures with external consultants who are amongst the best in their field. We are in a gold boom but Coogee remains unsold. I suspect, but do not know, that TMX is very short of cash and that it is husbanding what it has for payment of overheads, essential salaries, statuatory reporting and the like. If this is correct then it follows that not too much field work, if any, in progress. Whether I am right or wrong on these counts I feel the Board of Directors should at least get an independant valuation on Bundarra and Coogee so at least it will be well positioned to seek a JV partner, fight of ridiculous take over bids, and raise funds as and when necessary.

I also believe that we, the shareholders and owners of the Company, should kept informed of the current strategy of the Company and its progress along that strategy.

I believe the Board of Directors to be honest and most able in the geological field. However, I give them poor marks for their communication skills with shareholders. Maybe they should take a PR person on board to take responsiblity for keeping shareholders informed. I would predict this would pay hands down as it should ensure a loyal, informed, shareholder base rather than a frustrated one.