Ann: Alliance Applies for New Nickel Tenements, WA, page-3

Hi everyone. I've just read the chairman's address and can't say I was overly inspired. I hope those at the AGM had the benefit of more positive after meeting chats. Anyone want to share? With salaries and fees etc amounting to c$1 million per year shareholders will look for some justification.

Have also just re-read the updated ORS/Gandel Metals privatisation scheme and calculated that if the court approves the scheme (good word ) AGS will receive $121,000 in cash and 8,800,000 AYC shares. .. Remember the old Maldon valuations and capex/opex ?

With the chairman ending his address with ""Looking to the year ahead, Alliance is well funded to pursue exploration in Chile and other acquisition opportunities in the resource sector." I couldn't help wondering if there are other schemes in the pipeline involving AYC, whose coffers look much like AGS's, ORS's, and GIP's at the end of FY. .. Just thinking aloud. I hope we spend more wisely this time around. GLAH