Ann: Investor Presentation AGM , page-3

More of the same. Prior avoided answering questions and just referred people back to the EGM.

One point that didn't get clarified was that he said the board felt that the Icarus deal was more likely to get the mine into production early than Hebei Wengfeng deal. He kept on going on about was that he (the board) did due dilligence on Hebei Wengfeng and was satisfied that they had the cash.

How then can due dilligence show that Icarus with no background in mining only "delivering major projects" has more chance of getting the mine into production that Hebei Wengfeng who all thing being equal" had the capital to back it.

He also crapped on about his fiduciary duty to the shareholders. Well I wonder if the lawyers in the room raised their eyebrows at this. I wouldn't be suprised if they were a bit uneasy by this because his fiduciary duty was to act on behalf of the shareholders. A banana for $1.50 is a lot better than $1 - and an despite being an invitation to treat - given the amount of cash that these guys have lost, you would think that they could in the interest of shareholders, commence negotations under the caveat of a "superior offer".

The board is a joke - Harpers glowing comments at the end of Prior and Perry just went to show this.