2 years and absolutely nothing accomplished, page-40

I am a small scale long term shareholder and understand and share your frustration. I used to see Lindsay occasionally socially at the time of the GFC and invested then on the basis of my positive perception of his integrity and competence. In fact he impressed me much more that any other mining MD's I met around the same time, with refreshing honesty and humility.

I have no doubt he is still the same man (although I haven't seen him for many years) and he certainly has a lot of personal skin in the game, so it is hard to understand the complete lack of activity.

Having come this far I am prepared to wait until the end game whatever that is. He is not a man that would cynically milk the company for the cash in the balance sheet; therefore I am prepared to continue to hold and continue to support Lindsay in his plans for the business. However I also accept that a hard-nosed investor just looking at the facts of JRL's performance over the years would be long gone.