Important Considerations AGM

AML’s market cap has fallen by 65% from $210m to$74m over the last year.

Yet,somehow, MD Hamish Collins has been rewarded with a $50,000 salaryincrease to $422,000 plus 6,500,000 shares.

Howis this possibly justified in a company not generating any incomewhatsoever?

Moreover,in typical fashion, there was no disclosure to shareholders save fora single line in the annual report.

Collins’ expenses also went up by over 40% tonow over $7,000 per week!

Perhaps,equally unbelievably, the Board want a 3 year interest free loanextension on the 2,500,000 shares they awarded themselves at only14.5c. They want 3 years to get the share price back up above 14.5c?Seriously?

Thisis the same Board who refuse to answer any questions from shareholders and who have even changed the share holder communicationsection of their corporate governance to reflect this new insult toshareholders.

NBthe current market cap of $70m doesn’t even reflect the $100m spenton drilling let alone the Billions of $ of metals in the ground.

Yes,the cobalt price has come down but this in no way explains thecollapse in the share price to such ridiculous depths.

Weare constantly told that the market has lost faith in the managementwho, in our view, continue to put their own interests first.

Wewill certainly be voting AGAINST all resolutions at the coming AGM!