2 years and absolutely nothing accomplished, page-26

Holding on to our JRL shares all these years is totally on faith in LD and will continue to be until he weaves his hoped for magic again, to wit EME, and we can exit unless you want another decade wait. Yes, LD seems to be a good and competent guy and appears to have useful contacts in the industry. Running JRL is unavoidably a slow, low key, casual and virtually part time life of love for LD. A fairly unique situation, however, it would be beneficial to all if LD sets a clear agenda and time table guidance, as far as he can, of where JRL is going instead of the repetitive and frustrating (for > 6 years now), company spiel each quarterly and annual report about waiting for the right opportunity in this mining downturn. JRL must ramp up its program and implement something. The opportunities must be out there by now and a renewed focus of LD for his cash box company is warranted. We may not have the same lifetime time horizon as LD seems to.