tay's letter to shreholders, page-2

copy of the letter we received:
7th?March?2011??
?
Dear?Shareholders?
I?would?like?to?comment?on?the?recent?Circular?the?Independent?Board?Committee?(IBC)?circulated?to?
Dynasty?s?shareholders.?I?have?taken?legal?advice?on?the?misleading?and?incorrect?comments?in?the?
Circular?and?have?been?advised?that?some?of?these?comments?are?also?defamatory.?As?such?I?am?
considering?bringing?legal?action?against?the?IBC?and?Terry?Gygar?for?these?comments.??
Before?commenting?on?the?Circular,?I?would?like?to?bring?the?focus?back?to?the?reasons?for?calling?the?
EGM,?which?is?strictly?driven?by?my?concerns?for?the?future?of?Dynasty.?I?also?believe?that?shareholders?
(of?which?I?am?large?one?myself)?deserve?a?Board?where?all?Board?members?have?the?necessary?mutual?
confidence?and?trust?in?each?other?to?operate?harmoniously?and?effectively?to?increase?shareholders??
value.?
?
Changes?in?the?Dynasty?Board?
The?Circular?made?no?mention?of?the?pressing?issues?facing?Dynasty,?it?is?simply?a?smear?campaign?
against?me,?intended?to?take?the?focus?off?the?main?issue,?i.e.?future?of?Dynasty?and?the?best?way?to?
ensure?optimum?returns?to?shareholders.??
As?I?stated?in?the?Notice?of?Meeting,?Dynasty?urgently?needs?to?have?a?WA?based?exploration?team?and?
experts?in?metallurgy?and?mine?geology?to?take?the?Spear?Hole?deposits?to?the?next?stage.??
I?propose?that?Dynasty:?
1. Fast‐tracks?the?exploration?to?identify?the?high?grade?DSO?targets?to?compliment?our?billion?
ton?detrital?project;??
2. Examines?the?infrastructure?solutions?best?suited?to??the?project;?and??
3. Undertakes?a?pre‐feasibility?study?in?relation?to?the?project.??
I?have?extensive?contacts?in?China?and?South?East?Asia,?which?I?am?confident?will?be?useful?to?Dynasty?to?
secure?any?major?future?funding?that?maybe?required?and?I?believe?that?with?the?proposed?Board?
changes,?we?can?transform?Dynasty?into?the?company?we?all?hope?it?to?be.????
If?you?support?my?view?for?the?future?of?Dynasty,?I?would?appreciate?your?support?by?voting?for?the?
resolutions?that?I?have?put?forward?in?the?Notice?of?Meeting.?I?firmly?and?sincerely?believe?that?this?is?the?
best?way?forward?for?Dynasty.??
I?have?acted?and?will?continue?to?act?at?all?times?in?the?best?interests?of?Dynasty?and?the?shareholders.?
Whilst?I?view?the?comments?in?the?Circular?as?secondary?to?the?main?issues,?to?ensure?that?shareholders?
are?fully?informed?I?comment?on?them?below.??
?
Share?trading?
The?shares?in?Atlas?Iron?(500,000)?and?Poseidon?Nickel?(227,978)?were?allocated?to?Dynasty?as?
consideration?for?the?sale?of?some?exploration?tenements?to?these?two?companies,?which?occurred?before?I?was?appointed?to?the?Dynasty?Board;?Dynasty?also?subscribed?a?further?1,800?Atlas?shares?by?
participating?the?Shareholder?Purchase?Plan.??
The?Dynasty?Board?unanimously?approved?the?investment?of?$300,000?in?Fairstar?Resources?in?2009.?
These?transactions?were?recorded?on?page?57?of?the?2009?Annual?Report.???
In?2009,?the?Board?instructed?me?to?orderly?cash?in?Poseidon?Nickel,?Atlas?Iron?and?Fairstar?Resources,?
By?23?February?2010,?the?time?of?the?mentioned?Board?meeting,?I?had?sold?out?501,800?Atlas?Iron?
shares,?with?the?remaining?portfolio?worth?around?$245,000.??
I?note?that?my?trading?of?the?remaining?shares,?without?any?additional?capital?injection,?returned?a?
$72,343?profit?to?Dynasty?plus?a?net?holding?of?2,546,099?Argonaut?Resources?shares.?These?Argonaut?
Resources?shares?were?valued?at?around?$250,000?at?this?date.?Please?note?that?Dynasty?has?not?at?
anytime?ever?owned?4?million?Argonaut?shares?as?stated?by?IBC.?
?
Use?of?my?personal?PO?Box?
Dynasty?has?at?all?times?been?kept?aware?of?the?Share?transactions,?with?the?share?trade?statements?/?
ledgers?being?forwarded?to?the?Company?Secretary?at?his?business?office?for?the?preparation?of?the?
Quarterly?reports,?which?had?been?the?practise?for?the?previous?12?months?.??
Dynasty?was?and?is?still?temporarily?sub‐leasing?office?space?in?Sydney?,?the?use?of?my?personal?PO?Box?is?
therefore?nothing?more?than?a?temporary?measure?until?a?permanent?office?address?could?be?provided,?
or?a?Perth?office??has?been?set?up.?
?
My?qualifications??
Kin?Yu?Cheng?is?the?Cantonese?spelling?of?my?Chinese?name?when?I?lived?in?Hong?Kong,?while?Kian?Loo?
Tay?is?the?spelling?of?my?name?in?Hokkian.?I?have?always?been?known?as?Lewis,?and?in?2002?I?formally?
changed?my?name?at?the?Australian?registry?to?be?known?as?Lewis?Tay,?to?be?consistent?with?my?
Singapore?family,?a?practice?consistent?with?many?people?of?Chinese?descent.?
Due?to?the?length?of?time?that?has?passed?since?I?obtained?my?university?qualifications,?I?incorrectly?
listed?my?qualifications?as?a??Bachelor?of?Science??rather?than?a??Bachelor?of?Applied?Science??and?
inadvertently?did?not?inform?the?Board?that?the?degree?would?be?listed?under?my?previous?Cantonese?
spelling.???
I?shall?be?pleased?to?answer?any?queries?or?provide?any?clarification?required?on?0433?166?818.?I?
respectfully?remind?shareholders?to?remain?mindful?of?the?reasons?given?in?the?EGM?notice?and?not?to?
be?unduly?distracted.???
?
Sincerely?Yours??
?
Lewis?Tay??