results of general meeting, page-12

Joel

I am not saying they need more directors, neither are they - although I presume they might look to replace P Batten.

The point is that a $150k ceiling on directors fees was ridiculously low for a company about to move into developer status and wanting to attract, AND KEEP, quality directors. They dont intend to use the full limit now adopted, it has just been put in place to allow for a general increase in fees and for future growth as a company.

The fact that the SP has nose-dived since they announced the intended increase is a bummer for all of us, but shouldnt hold the company back from moving forward. In fact looking at the full list of resolutions, including the allocation of options to the new directors, gives confidence that they see the SP at much higher levels soon.

cheers