Ann: Presentation Expanding in the Taroom Trough, page-93

A friendly email to our good buddy Neil Young. Still no reply for some strange reason, maybe he's on holiday:

'Hello Neil,

I am a long time Elixir shareholder and after reading the announcement today regarding the expansion into the Taroom Trough I would very much appreciate an answer to the following please:

When will you and Elixir's management provide an actual rise in shareprice instead of continuously dwindling it down to practically nothing with unfinished and seemingly discarded projects?

So far Elixir have jumped from project to project without actually ever achieving any result that equates to a rise in the shareprice or an actual saleable product of any kind, in fact it's quite the opposite as you've eroded the shareprice down from a high of over 45c to what will soon be 3.5c, probably lower and falling - you have nothing productive to show for it. Nongom - what happened to that, what have you produced? Green hydrogen - what happened to that, what have you produced? Grandis - what have you produced & why move on to Taroom before finishing it? When will you actually complete anything that results in some sort of return ... never?

The very real impression you're giving the shareholders is that you've gone from failure to failure, and distract the shareholders from the failure with the dangling carrot of a fantastic new venture every time to juice them for more cash through further credit raises (or should I say another credit raise to your institutional investor friends most of the time).

When do you expect to actually provide value in the form of a rising shareprice to the shareholders, i.e. a positive return on the numerous projects and 'assets' that Elixir has spent the hard earned cash of the shareholders on? When will be the payback to the shareholders? The value of my holding in Elixir is currently -62.84% since I was foolish enough to buy back in again after losing a lot of money previously, and I expect that to fall further with the current credit raise. What's the next project you have to distract the shareholders when the Santos thing fails to deliver like all Elixir's previous projects - should I expect a further -62% fall in my current shareprice, more?

Your credibility is in the toilet Neil, you better pull a rabbit out of the hat this time without fail. Last chance before EXR loses what little market interest it currently retains, and management end up with reputations in the business and market worlds as conmen taking everyone for a ride to provide for their lifestyles at the expense of the ever suffering shareholders.

Regards,'