solely gwr holding and your voting tendency, page-27

No dollars, I KNOW FAS is bad news for GWR shareholders and I'll explain why.

Many GWR shareholders converted to FAS at 1:7 and are at present showing a loss of at least 68c per GWR share- how was that good for GWR shareholders?

Had FAS taken over GWR, the dilution in value of any GWR shareholders was at least 50%, how was that good for GWR shareholders?

FAS shareholding now makesa takeover offer for another Iron Ore miner difficult, how is that good for GWR shareholders.

The purchase of JD's tenements at this time will require a 20% - 40% dilution of GWR shareholders value, how is that good for GWR shareholders?

Now as to PMM, their influence can only mean greater knowledge of the iron ore market and mining operations, however the board room takeover is not as good for GWR shareholders as a 50% cash takeover and then board room control as a result would be.

Therefore as I have stated before if you are a GWR shareholder intersted in maximising future value in your share price, the only options are to vote as follows:

Vote out Markopolous
Vote in Wilson
Vote in Lester
Vote in Mehan

Vote no to tenement purchase
Vote no to Cap raising

Any other vote is either for dilution, continued poor management, or board room takeover