melbourne presentation, page-14

Further to yesterdays presentation:
*Iggy's departure was because he was asked to step aside by the major shareholders. He was unable to gain support to generate credit/capital. It was interesting to hear that the whole 'land grab' phase that GXY went on was a scenario which can happen during a resource boom. However now times have changed considerably..
*No raising could be undertaken before the accident had been resolved and the plant back up and running smoothly. Hence the reason for the delay in the raising.
*The intention is a newly structured board (inc. chair).
*They intend to appoint a former FMC specialist to assess and recommend on Jiangsu in order to optimise the plant.
*They intend to scale back administration in Australia, while still allowing full compliance with ASX.
*The company gets frequent requests for stakes in SDV. However they will not entertain any low ball offers.

Finally it was asked about the battery project proposal. Answer- dead. Bad idea, end of story.

Those of you still pushing for administration are completely at odds with major shareholders and the company.

Cheers,
MV