Question to the floor, page-217

The article is an accurate reflection of the turn of events today. The CMT has managed to create a successful environment of change and has moved on the lifestyle Board and CEO.

The results of each resolution where exceptionally close and that margin maintained post-proxies present. Resolutions 1, 3 and 5 was so precise by a similar margin and not carried. When you extrapolate that across circa 1bn of units voted in (that size vote for a section 249D is exceptional in itself) the statistics of that occurring is like winning lotto 3 times.

Resolution 2 for the appointment of Dr Anthony Robinson was successfully carried by some majority. One can infer a significant top 10 shareholder plus possible known others and / or associates orchestrated a convincing win. As I said, Dr Robinson will bring rigour, discipline and project capex optimisation expertise, amongst other things, to the project - despite Mr Burton’s misleading assertion he has no mining or Board expertise.

As a matter of fact, the final numbers on each resolution were not shared with those present until well after 5pm. Yet the paper was swift to report the outcome by 530pm. That timing seems impeccable and clearly some remarkable journalist can get this information through their processes and to the public in less than 15m while I was struggling to leave the building just after 530pm. Go figure.

Finally for the record, Resolution 4 was abandoned and the results not shared because Mr Elkington resigned effective immediately today as a director and before the EGM. The company decided to pull what is otherwise a shareholder imposed resolution and no results were published. I’m my view, this is a failure of due legal process which the company’s lawyers failed to address with any authority. Due process is not a strong suit of the company.

Mr Biddle in his open remarks as new chair were remarkable, somewhat unsophisticated but direct and assertive which I enjoyed - particularly when he told Burton he isn’t the man for the job. Hopefully he finds a new CEO before the looming AGM and maintains and grows shareholder value. He also needs to be appointed in as a non-executive director by shareholders. Hopefully he gets some runs on the board before then.

We continue to be committed, active and engaged. Don’t underestimate us as we are resolute in our mission for project success.