Ann: Canegrass Project Exploration Update, page-8

Spot on @georgia14, Its not hard to work out why the ASX is in such a mess when you read these responses " does not intend to provide any further responses to you" I also received one of those emails a few weeks ago.

I believe this entire situation we are in has a lot to do with the ASX either being asleep at the wheel or blatantly allowing these ridiculous rules to proceed.

The ASX should NEVER allow a vote of any type to occur when 1 shareholder already holds equal to or above that amount required to pass a vote, the ASX should NEVER of allowed the BOD to be selected via an ordinary resolution in our case as at the time 1 shareholder held more then the amount required to select their very own BOD, hence giving them complete control.

I believe they need to learn from this and change the rules, the resolution allowing for any vote to pass should be at a greater percentage amount then any 1 shareholder holds, i.e.

* 1 Shareholder holds below 50%  - Ordinary Resolution (50%)
* 1 Shareholder holds between 50% - 70% - Special Resolution (75%)
* 1 Shareholders holds between 70% - 85% - Should require a 90% acceptance to pass.

I might be wrong but it doesn't seem that complicated, thoughts?

L4L