share purchase plan, page-5

I commented on this thread yesterday but I asked for it to be removed because it was a bit long winded.

Anyhow, I received an email back from the company that addresses SAS 1s concerns.

The main points they stated are are listed below:

# We agree that the recent performance (in terms of share price) has been unsatisfactory for those who are longer term holders of the stock. That said, our role which we reinforced during the recent broker roadshow is to turn Maximus around. We believe we have the right asset mix to take us from our current position to a considerably re-rated stock. To do this, we must have focus and discipline. Funds raised from the SPP will help us achieve this. The SPP is a step, but not the only one.

# Many of the specific issues raised have been addressed in previous ASX releases by the Company. For details of staff salary, you will have these when the Annual Report is published. If you look at past quarterly reports, you will see that the directors have foregone their fees to help support the Company. We have a shared services group in Adelaide and employ 2 people at Sellheim. This allows us to put the maximum funds we raise from the SPP into drilling. I hope our efforts at Deloraine are successful. If so, I would expect a serious and positive re-rating of our company.

# For the specific issues of the SPP, yes all shareholders will receive a phone call on behalf of Maximus. The price of 2.7c was an 18% discount when the SPP was first announced to the market and even within the current trading band still represents around a 10% discount. Still good value we believe.

# Those enquiring on Sellheim should have read in our earlier ASX releases that it is currently on care and maintenance whilst we undertake infill sampling. We were not comfortable with the spacing of the existing exploration test trenches and so we need to close it up – much the same way as closing up the drill spacing to get a better handle or confidence on a hard rock resource. We need this information so that we can design the right plant and right throughput. We want Sellheim to operate so that it covers our corporate monthly cash burn and therefore the money we raise can go into drilling. That is an aggressive drilling programme.

# For our planned drilling programme at Deloraine – the SPP should raise sufficient funds to get us to the point where we know whether it will deliver the goods. If it does and things look positive, then the market should respond positively. That will then enable us to get into Narndee. Success there would make a 10c share price look paltry. But, as we know, we are in the exploration business where risks are high – so are the rewards. As we go forward, we’ll have to review our assets to make sure we have the right mix to get there. It’s all about portfolio management.

As always dyor and invest at your own perils. Maximus is an exploration company, if the drilling results from all the tenements come back positive, this baby will fly. It is up to the individual if they are taking the risk and getting on MXR I have and I have been in them for a long time. I have stayed in MXR and topped up along the way its share price's downward path because i believe in the tenemants and resources that they have. I will hold and as the new Aussie Resource boom gets underway, watch this baby rise from the ashes. Narndee as I have always said, I believe will blow your minds.

biggz