Ann: Trading Halt, page-15

Really disappointing is all I can say. Been a holder for many many years and have tried very hard to stay positive. What is most disappointing is the complete lack of communication from the Company. For mine there remains an issue as to whether all required Kolosori Land owners have reached an agreement with the company. Surely if that had occurred the shared/ common approach to the SIG from the owners and Axiom would be sufficient to push the process forward for the required approval/ license etc. We have heard nothing. A joint statement to the local news or from the company that all required landowners are on board and support the Axiom application would go a very long way. If that were able to be issued surely it would be even if for no other reason to raise more capital to keep paying Admin salaries!!

The salary that our CEO is taking is ludicrous. I have also been told that other relatives may be on the payroll and there was some doubt as to their role and credentials. What exactly is being "Managed" by the admin team? They have drilled some holes for mediocre results, They seem to be unable to cause any result from the SIG and there is no income or other business plan other than ( it seems) sitting back and waiting for an approval. What do they do every day? How can our board be satisfied that they are fulfilling their fiduciary duty to shareholders?

Want to raise capital at a price that is fair to the rest of us? Make a joint announcement with all landowners. Provide evidence that all landowners have signed agreements with Axiom and support the licence process. If this has not occurred why not? Are our admin team too busy?

I have been for far too long perhaps too naïve as to our boards intentions. It is becoming far too difficult to continue to support the notion that we are not being taken for a ride. Perhaps The $800k should be $200k plus share options linked to KPI's?? The first KPI is simple. Clear evidence that all landowners have agreed with and support the axiom application. Second KPI, issue of licence. Third KPI first shipment leaves port.

Enough. Just enough.