Below is a portion of a letter that was sent through to Mark...

Below is a portion of a letter that was sent through to Mark Bojanjac and Hamish Holiday in mid October raising concerns about equal allocation of time and resources across the multiple positions they preside over .
These key concerns have been raised amongst a large group of shareholders and to date I have not recieved any word from either Hamish or Mark ( Listed Halcyon Directors ) .
Andrew , I believe is dilligently working towards progressing the Company and I know that Andrew is working very hard in this regard as he is very dedicated and focused on the objectives at hand - My concern lies with the other listed directors and their individual contributions and associated interests in other listed vehicles and whether this is impairing the potential operations and progress of Halcyon .. any comments welcome

Dear Hamish , I understand You are busy so I will endeavour to be brief . I am a shareholder in Halcyon Group and have been keenly keeping abreast of continued developments over the last 12 months .
The Company has been consistent within its listed objectives branching into gold and nickel exploration and I would like to thank all parties involved for their continued efforts .
However , I have recently been in contact with some key shareholders and I would like to take this opportunity to articulate some of our concerns .
As You may be aware we are approaching March which is the options expiry date and although I personally do not hold any options there is a sense of unease amongst some option holders that their parcels may expire worthless which leads to my next observation .
Over the last year we have seen the sale of Perth IX and an extensive gold drilling campaign that resulted in some significant targets for further exploration down the track , and inaddittion to this, the recent ongoing nickel target generation campaign whilst in its initial stages appears to be quite encouraging .
At this stage shareholders are quite pleased with the progressive exploration for both gold and nickel although questions have been raised regarding equal allocation of time and resources amongst the three associated Companies ( Adamus Gryphon Halcyon ) .
As You have appointments on all of these publicly listed Companies, it can sometimes be difficult to allocate the required time and resources accordingly to each Company whether it be due to time constraints or other reasons and this is the area in which I would like to focus on and raise some key issues .
This is a significant time in the development of Halcyon and I believe the issue of equal allocation of time and resources requires closer scrutiny as there is a current perception that associated interests and positioning in other listed vehicles may be impairing the Directors abilitiy to act in the Company's and its shareholders best interest .

The operational procedures in relation to governing the three associated vehicles require a fine balance of committment and dedication irrespective of the financial positioning of one Company in relation to the other , so where Halcyon may be somewhat undercapitalised at this delicate stage of Company development, an equal contribution of resources and intellectual strategy is required in moving the Company to a higher level.
It is the shared belief that this higher level can be attained through a shared and structured workload in addition to the high level of commitment that has previously been demonstated.

Your time in reviewing this document is appreciated , and I look forward to your reply
Regards - shareholder