throwing the baby out with the bath water!, page-13

Hi JS,

Thank you I understand we are apart on that issue and very glad to hear you agree on the rest of the story; that is fantastic.

Shareholders want a return I totally understand that as I am also a shareholder and vary my holdings from time to time. I want a solid uptrend I can trade and believe they can do it. But I understand the path has been terrible in the market and very frustrating for shareholders - hence the angst and at times anger.

I too was concerned about the 51%, lucky to talk to some of the people I have access IMO - you or others cannot judge that as you don't know who I am talking about. Sorry about that.

Household name Corporation - holds a top level job in charge of deals in Asia - the top level 'go to it we have hit a snag' guy. His brief has been in charge of Singapore, Japan, China and India with a little bit more across Asia.

He is highly paid and wrote the manual for what can go wrong on international deals particularly Asia at the corporate level - which I have not seen and have no detail as it was kept in-house and is highly confidential.

Just putting that deal to Mark, and his response was surprisingly supportive. I have known him since 1970 my second oldest friend so I know he was being straight with me - totally. We welcomes the 51% - go figure. His argument is that they have more skin in the game than you (us) guys and that they are brilliant at numbers and business and that the long term and their word are assured. Not so elsewhere was another comment. I discussed th3e ins and outs for 45 min with him.

The other guy I sought further opinion from used to be a high flyer in the banking world, internationally and ran bond trading rooms for international banks. He even ran lectures to the Central Banks for a time. His knowledge of debt markets, macroeconomics and general business knowledge are the best I have seen IMO - calls it right just amazing. His contacts are elite. His (Andrew) initial comment was "so what" on the 51% and that this was required to secure access to the syndicated loans FML would need in the medium to long term when things get really serious. He cited laws (has accounting and law degrees) on shareholder rights and etc is a wealth of information.

And of course I have spoken to CB, DT, Chuck and Garry Adams so far with an interview with Dean next week. They hear shareholders want more data - not enough room in here so I have been sought to prepare a report for all as an independent analyst on the big picture here.

Kind regards, I sincerely hope all works out for every shareholder with this deal and that the raising / growth / raising cycle will be over and a significant mining house will emerge - with strong profits and most importantly shareholder wealth as a result of all the hard work and angst.

Regards,
CW
DYOR&DD