Ann: Results of Meeting, page-60

Let's be clear the old board recommended the incomplete RRL offer, it never made it to being a real bid/offer as it was rejected by the major holder Hawkes Point before it could be formalised.

The way the incomplete offer first came to light through a pretty obscure report on the internet indicated that confidentiality around that proposed offer was extremely lax and not commensurate with proper corporate governance standards.

You might be correct in saying Bibra would be in safer hands with RRL but that is not a sufficient reason to sell it well below its value. Investors invest at this end of the market to take on risk so they can capture higher rewards. The project has passed the banker's threshold and due diligence for funding so with experienced directors and the right management team there is really no reason that the project couldn't be pushed through to capture the longer term benefits of a mine for shareholders, especially if the $A gold price stays sticky above $1,800/oz.

Let's not delude ourselves, $85 million is not enough but if it comes via an asset sale we will have very little chance of stopping it. The major holders have shown us their cards and intentions now.

They just need to show us the money now.

If there is no deal behind this we will go backwards IMO.

I find it hard to believe a deal isn't coming and soon. Esh