Update, page-72

I hope this gets offered to us first,
and the remainder to the so called professional and sophisticated investors

Resolution 8 - Approval for issue of up to 200,000,000 new Shares Subject to the approval of shareholders, the Company proposes to issue up to 200,000,000 Shares at a price per Share that is at least 80% of the average market price for the Share calculated over the last 5 days on which sales in the Shares were recorded before the day on which the issue is made.  The Shares proposed to be issued have the same rights as other Shares of the Company already on issue.  The amount to be raised is to be applied to the Company’s exploration activities, appraisal of corporate opportunities, participation in new ventures, if any, the cost of placement of the Shares and to general working capital.  The Company proposes to offer the Shares to professional and sophisticated investors and other investors who do not require a disclosure document under section 708 of the Corporations Act that are known to the Company and/or introduced by stockbrokers. No approaches have yet been made to investors or stockbrokers on any offer at this time. The Shares will only be issued to those persons that accept an offer, if and after the proposed issue is approved by shareholders at the Annual General Meeting. The Shares will not be offered to related parties. The Company may not issue all the Shares for which approval is given and may issue the Shares progressively as the Company places the Shares with investors. No Shares approved under this Resolution 8 will be issued and allotted by the Company later than three months from the date of the Annual General Meeting.  
The Directors recommend that you vote in favour of this resolution.