egm on 26 march 10, page-9

kastin

It is to do with a default involving their Joint Venture partner Auvex Resources Limited in the Ant Hill and Sunday Hill manganese ore deposits. If you have not received your notice in the post the Announcement on 22 February 10 gives details.

In relation to the issue of a default, in its ASX Announcement on 27 November 2009 the company stated that Auvex entered into an agreement on 6 October 2009 with other entities and this breached their agreement. Hope this helps? I'm still reading and have an open mind on how I will vote.

cheers