writ update, page-35

The money wasted on this saga is small ( $80-100,000 compared to what was committed in the quarterly budget to beneficiation and exploration

Don't get me wrong, I am very upset that Tay and Oh forced an unnecessary EGM, that resulted in the necessity to fight the removal of Carson and Levy

A capital raising will be necessary after the $2m ( that was in the bank a month ago ) will have been spent on concluding beneficiation tests and other monies committed to exploration. This raising will be required for a Pre Feasibility Study and was always part of the regular strategy.

It seems from Oh's comments that he has identified cost cuts of $25,000 a month, that this relates to

a) Carson's salary of ~ $18,000 a month
b) Dynasty Sydney office rent ~ $ 4,400 a month
TOTAL $22,400 a month

This also implies that Revell, the GEO who was to take over from Carson, is not being paid a normal Geo's salary

Secondly Revell sits on 4 boards, one of which he is an executive Director.

I leave it to the shareholders imagination to decide how much geological work Revell will and could do for DMA on that basis.

But Tay's associates will get the cost savings that Tay promised them !!

What astute management !