Ann: Proposed issue of Performance Rights, page-2

This is pathetic!!! Two of the performance hurdles have been or will shortly be met. "Stuff" the poor shareholder that has carried the two companies that merged to create Bardoc. It sure looks like the "new" directors, having essentially ejected 2/3 rds of the old EXG directors are trying to get their snouts in the trough, big time. As a geologist, I have no doubt about the massive exploration upside at the project tenements and I think that Zoroastrian, in particular, will prove to have a large and high grade deep deposit (drilling obviously required to prove this!) and there is clearly considerable upside at Aphrodite as well and I fully expect that we will end up with a lot more than 3 million ounces and will have a stand alone mining operation within 3 years. However, I am, sure as hell, sick to death of seeing directors look after themselves rather than the long term and loyal (retail) shareholders who have always been there to support the company(s) in previous CR's. At the end of the day the shareholders OWN the company and a little more acknowledgement of, and respect for, that by directors would be appreciated.