Ann: Company Update, page-22

Hi all

Whilst this is a great outcome I am concerned that for such a small company we now have 5 non executive directors with a few of them with similar skill sets. This to me is an over kill as we now have $300k pa in non executive directors fees. Add management fees for those that actually do all the work and we would be up to between $800k and $1m pa in salaries.

Also no one with technical geo and / or mining expertise

All in my opinion.

Cheers SandyC