Ann: Alpha Project and Corporate Update, page-28

In my opinion, you are justified in losing faith in management, particularly NB. Consider the following:

* As NB leaves for a holiday, he advises GRV he has given his mate a heap of shares.
* When NB returns from a holiday, he appoints his mate Mr Barr, because he is a Helium expert. I don't believe EP 145 will proceed while NB is Chairman. Mr Barr's presence is to shore up NB's voting power at board level, so NB can pursue his pet projects. EP 145 is not one of them. NB has now departed on another holiday.
* Alpha may have a future if time and money is put in to further testing and analysis. This requires a rigarous and methodical approach, something suited to MT. This will not suit NB, and in my opinion will stall at NB's behest.
* If shareholders have to vote on Mr Barr becoming a board member, I will vote against him in order that there is some level of accountability by NB at board level.
* MT may or may not prove to be the KB from PLS that we need, but I don't believe this will happen while NB is the controlling influence at board level. Apart from a reputation derived from his time at PLS, what has NB contributed to GRV? I don't believe we have a happy or co-operative management team, and it would not surprise me to see some significant announcements in the near future.