Ann: Settlement / buy back proposal, page-54

Maybe the State Govt came up with 25 million as fair compo because that is roughly Mels market cap at the moment. They have not taken into consideration that Mel changed its reserves to resources to highlight what costs they have incurred over the 10 year period in the NR. Mel did say they could easily change resources back to reserves, if the NSW State Govt supported Mel. Mels shareprice began sliding in one direction when they temporarily suspended their operations to conserve cash in 2013 as the State Govt kept shifting the goal posts. Then, when they were suspended in 2014, Mel was in limbo and still is as we do not know if we have a future, hence the record low shareprice. The State Govt failed to support Mel. Mel has been damaged by the State Govt by the unlawful suspension and referral to ICAC.

The minimum buyout should have been 120million + which is just a refund of their exploration costs,plus compo for unlawful suspension last year.