things all shareholder should consider

With all current goings on at Mutiny over the past few months and with the current voting to remove JG as a director from Mutiny - here are some thing that should be considered when deciding on your vote.

I ask you to consider this - JG is no longer MD of the company - so for all the overpaid arguments and other knocks on him as MD - note, that is not what this vote is about. Its about retaining him as a director.

Here are some things to think about:


JG probably did not resign - he was sacked, pure and simple. Then we have to ask - why has this occurred?

In his letter, JG mentioned he was against the placement to ausdrill at a discount to what he could have raised capital at.

There is no doubt there is a power play at work here. JG comes across in his letter that he was against the current placement and the alliance with ausdrill.

I ask this - why would mutiny enter into an alliance with ausdrill for mining services? - sure they are a big company with expertise - but what are we getting from this? - they gave us $1,000,000 at a discount to get on our registry, and that is obviously what got them their alliance.

Now are we expected to shell out over the competitive prices for their services? In original announcement it states all will be done at an arm length basis - do you guys really think this is what this alliance means - that they have to be the cheapest bidder to get the contract?

There is no doubt there is a massive slowdown in mining services demands, this type of deal is probably more important to Ausdrill then it is to us - lets be honest, we get financing - we can use any contractor for our work.

If they are our "preferred" contractor going forward, this is big dollars for them. There are some big dollars in it for Ausdrill here. Ide say mine contract and ongoing services will be in the hundreds of millions of dollars in contracts for them.

So was JGs preference to not offer the placement/alliance to ausdrill a reason for his sacking?

After doing a little research - I have found links between GR engineering and Ausdrill - now 2 major shareholders, and would not surprise me if these directors also have major holdings in their own rights. In other words, they could be major players in board decisions.

Our last Updated DFS said we only needed $62million start up capital for Deflector - if ausdrill is chosen, they better be able to at least match that price.



All I can hope for here, is that everything is above board with what is going on. With JG holding his place, atleast he could be someone fighting for shareholder interests.

Would make me sick in the stomach if in the future, we all of a sudden see some new directors appear at mutiny that have ties with Ausdrill/GR engineering, or even better, we give Ausdrill some fat contracts, then all of a sudden our guys get some cushy job over at Ausdrill.