Ann: Notice of General Meeting/Proxy Form, page-11

Interesting view bushy. Perhaps you’ve spent a bit too long out in the scrub?

The issue of shares for production milestones is the consideration for the original acquisition of the ore body and mine. It does have a viability threshold in that the shares are only issued for tonnes sold at a margin above US$15/t. Without this transaction the company would not exist and would not have an ore body to mine. Not sure how you use this as an example of poor director behaviour - it is the transaction that founded the company!

The Newhaul transaction is immediately EPS and DPS value accretive. This means that dividends per share go up by doing this transaction. Your concerns about dilution and dividend reduction are rubbish. The haulage business is a profit generator and FEX have acquired the 50% of this future profit stream under terms that mean FEX will get a much better return. Anyone here claiming “they paid too much” clearly does not understand the transaction or the business. Management are ensuring the business generates the maximum return possible for shareholders. The transaction increases both earnings and dividends on a per share basis for shareholders. Do you understand this concept? You think this is largesse? You make accusations this intelligent BD activity is actually somehow taking the company “to the wall” and is relevant to accusations of corporate frauds and allusions to Bond and Skase? Shame on you!

FEX looks to be going places under clear direction and I like what I see other than the conspiracy and fallacy I read from posters here who appear to be a very small group of highly agitated and misinformed miscreants shouting in a echo chamber.