re: Ann: Notice of Annual General Meeting/Pro... Resolution 8 is...

re: Ann: Notice of Annual General Meeting/Pro... Resolution 8 is a planned CR:

That for the purposes of Listing Rule 7.1 of the Listing Rules of the Australian Securities Exchange and for all other purposes, the Company approves and authorises the placement by Directors of up to 20 million ordinary fully paid shares in the Company to two or more placees not later than 3 months after the date of this meeting, each share to be issued at not less than 80% of the volume weighted average market price of the Company?s shares on the ASX calculated over the last 5 days on which sales of AQR shares were recorded prior to the date on which such share is issued.

The Directors are of the view that it will be of significant benefit to the Company if its exploration effort is increased in the coming 12 months. The Company?s current cash position is approximately $3 million. It is the Directors? view that further drilling, assays, metallurgical testwork and geotechnical work needs to be done to upgrade and possibly increase the Company?s current Inferred Resource and better understand the mineralisation at Whitewash. Additional employees and contractors will be required to get this work done and the Directors prefer that funding for this work be to hand before commitments are made.

Handy for the sophs and instos to know of impending CR in three months to liquidate existing holdings and get hold of more in placement. Sorry but tonight's me cynical night and I have had enough of ordinary holders getting shafted by sophs and instos.