egm, page-16

Hi Everyone,

My thoughts:
- Turf or restructure to a smaller management team
- Implement independent board of directors
- Remove contractors on site
- Farm out the operations and maintenance of the assets to reputable companies with proven track records and construct a performance based remuneration structure for them incorporating full or partial farm out of operational cost-over-run risk (I have a few Aus companies who could potentially look at this)

Benefits:
- Lower overheads
- Direct costs compartmentalised
- Reduced risk of dilution of shares
- Skilled people who have a proven track record
- No further issues of independence on the board
- Open up the path for great reporting to the market for interim share price gain

Disadvantages:
- Management no longer around
- RIsks in the transfer of knowledge
- If management also have 50m shares cumulative, could cause a succession of EGM (subject to the ASIC rules)

I welcome your thoughts on the matter.

Andy