Ann: Full Year Statutory Accounts, page-7

Hi Propagandista and all,

Posted here and also E-Mailed to Mr Scott Huffadine.

Whenever I have spoken to Mr Scott Huffadine about the problems with this company I am without fail told that no matter what the problem was it occurred or at least started before he came on board. As far as I’m concerned if he is getting the salary for doing this job then he should shoulder the responsibilities of the job until he does and this company gets out of the current malaise he should forget about asking for more shares related to performance.

This guy must have a very thick hide even to ask for performance shares given the performance of this company over the last couple of years.

I am not being mean-spirited here I mean after all fair go and once we see some positive performance from this management I have no problem with them being issued with performance shares.

We all agree the mine fatality was an unfortunate accident; however, the forestry permit and loss of production caused was nothing more than very shoddy management and certainly not worthy of the kind of salaries these guys are taking away from shareholders and company profits. To even think of any kind of bonus at this time is ludicrous!

I for one will be voting against any performance shares for Mr Scott Huffadine in resolution 4.

If others shareholders feel he deserves a reward given the recent share price action and company performance please think what kind of message you are sending.

British football team managers are sacked for losing a few games in a row; no one with at least half a functioning brain gives a reward for poor service.

This company has excellent to bonanza grades with an instant market for Gold currently over AUD $1,600.00 apparently we also have a good mining team. This being the case where are these so long promised gold production numbers?

Scott when you read this and I strongly suggest you start to take this job seriously and once the share price breaks above $0.30 cents and once again regains its true $1.00 plus value then you can raise the question of performance bonuses.

If you wanted to own more shares in this company you had ample opportunity to buy them during August and September for under $0.20!!! That’s a great deal less than I and many other shareholders have paid.

May I suggest instead of free shares for (none) performance you take some options with a conversion price of $1.00 in twelve months’ time; you may find this will give you some kind of incentive for your work.

It’s clear to me that this management think we shareholders are stupid beyond belief!!!

1.8 Million Shares would put him up there with the top fifty shareholders I know because I’m told I’m in the top fifty; however, I earned the right to be there!!!

I was born in Yorkshire UK and there respect and bonus payments are not given away for free, one needs to solidly earn such things if that’s different in Australia I’m sorry; probably very sorry!!!

I hope others also express their views on this issue.

Cheers and very best regards: Andy