Ann: Response to ASX Query - Appendix 5B , page-14

Good luck with your idea. As each of them cycle up for re-election at the AGM, there has been some dissidence to vote down the clown. Foley was the last one campaigned against but managed to be elected back by an easily weighted majority.

Unfortunately, without the numbers, you will not succeed with your campaign to break the board cartel.

However, over time it may eventually be possible to divide the majority stranglehold as the issued capital of the company grows & existing holders (including Herr Director & family) become further diluted.

I would expect that The JV will likely expect a seat or two on the board & that can only be a good thing.

With the $18m capital raising, half of that will be equity driven (another $9m @ say 0.10c PS).