legal advice over letter to shareholders, page-2

The Board may well seek legal advice and it will be interesting to see where the "material misrepresentations" are identified.

If it is not the value of the resource in the ground, then the indicative value of the shares again highlights why the shareholders are and have been, screaming for better results on the market price of the shares. This even before the JORC upgrade!

If it is not the reference to the Board's inability to yet secure the Marenica Project in writing, there could be no better reason to strengthen, if not replace, the Board. I personally see this as a dereliction of duty where investors funds have been spent, without security of tenure wheteher tacit approval or not.

As fare as advising us not to take any action yet, the only thing left to do is lodge our votes and even then, there is time to change any votes already lodged up to 48 hours before the meeting.

The change cannot come soon enough for mine.