Ann: Chairman Address to Annual General Meeting, page-13

the auz investors reactions in the last 2 days in light of the bfs on the sconi project speaks for themselves!

even if it is a world-class property, it would be very (!) difficult to realize the production without very very big debts or considerable dilution of the sp with the issue of many many millions of new shares!

instead, we now have money on the bank for the commissioning of the bauxite project, which melior doesn't need and doesn't want to have at all to get its monto project up and running, but the bauxite project is only 50% owned by mlm.

because the monto project is already running, while you're still throwing sand in the eyes of the mlm shareholders that melior is only interested in mlm's money!

finally realises or speaks plainly and the truth that each unit should and will be profitable on its own or even already is (melior) and that both together will form the basis for a big market player.

i vote for the merger!

greetz!