Ann: Mining Licence Application - Muchea West, page-20

We have a long way to go in terms of CRB actually producing anything - we seem to have a Board that moves at a glacial pace, we need mining approvals, to secure sufficient water, get an EPA approval etc. VRX has been working their way through going mining on their resource for quite a few years and it is frustratingly slow. The EPA particularly has been very slow with their evaluation/approval process.

The vendors picked up a stack of shares from the sale - I saw a post a while back they would be coming out of escrow and there was speculation that they might make a move to do some changes on the Board. I thought the escrow only impacted their ability to sell shares not vote the shares but I am not sure. A shakeup in the Board to get some motivation happening would be good though I am not holding my breath for that - to be practical the vendors are probably the only ones who have sufficient voting rights to achieve that.

What we actually need from the Board is a detailed strategic plan and proposed timeframe to take us to mining - it might be 2 or 3 or 4 years whatever it is - at least then shareholders have a guideline as to what the Board sees as the road forward and the timeframe proposed. Not a "we will perhaps apply for mining lease this year" or dig a few holes this year - if that is necessary great outline those steps and others to go mining and a timeframe they commit to. I'm not holding my breath for this as we seem to have a Board that doesn't seem to see the need to provide effective communication and does not seem to hold itself accountable to shareholders in any meaningful sense.