directors responsibilities and asic, page-4

To call an EGM you need either 100 shareholders or 5% and I believe have special resolutions proposed to pass.

Basiacally we would need Jeff to step up with his 5%. I think he has considered this option but knows the incestual relationship that TransGlobal, Sierra, Rescource Capital and Rand have will veto anything put on the table and possibly burn the bridge - though one coudl argue that they be excluded from voting on anything.

What an EGM would do would be to put Billis in the spotlight of the media and radar of ASIC.

http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s249d.html