Ann: Results of Annual General Meeting , page-4

I was there. I will say that the performance of the sp in the lead up to the agm suggested that there was going to be no significant news there, and generally agm's aren't the place. I was hoping to leave with some confidence in a date for a drill this year, unfortunately no answers or reassurences there either.
Michaels address to shareholders was brilliant and spot on. He had a huge amount of support from the shareholders present but I was amazed how few votes he received. Especially given the fact that myself and friends holding was over 10% of his votes alone.. Asked him later about the lack of votes and he just shrugged. Not sure if he will run next year but I reckon that will have a lot do with the sp at the time.
The board was really taken to task by Michaels address and another shareholder there who really gave them a dressing down and received a round of applause for his efforts. He was basically begging them to actually do something. He had been coming to these agm for 5 years and had never heard anything different from the board.
Phillip Byrne did strike me as a genuine bloke. No flash or razzamatazz (good) but hope he is the quiet achiever type. Very approachable and had a good chat after. He did say during his presentation that he didn't come to Nido to sit on a heap of leases and do nothing . He came to "drill, drill, drill". But no answers yet on when or how(financially). I did get the very strong feeling that they are aiming for a lot of farm outs to get this up and running. Farm outs were mentioned many times and if no news on drilling this year I'd say there will be news on farm outs where one I believe is very close to getting over the line. Philip did say that to attract the best partners you need to have all your info spot on to present to them and this is something he knows well from experience. They are very excited and positive by galoc phase 2 and the funding will came from a facility as mentioned in the presentation. I raise the question about a cr and Philip replied" No intention at the point in time" Points in time change pretty quickly. I brought up the possibility of another revenue stream after the meeting and was surpised by the response. Not sure how that can happen quickly but I got the impression it's something the board would love to have and have been thinking very much down those lines. All in all, nothing new but am prepared to give Philip some time get some positive news flow out there and attrract some interest back into the stock. Will post more if anything comes to mind.