BURDEKIN PACIFIC LIMITED ASX CODE: BKSMEDIA RELEASE 30 NOVEMBER...

BURDEKIN PACIFIC LIMITED ASX CODE: BKS
MEDIA RELEASE 30 NOVEMBER 2004

SHAREHOLDERS ENDORSE BOARD OF BURDEKIN PACIFIC

At a general meeting of shareholders of Burdekin Pacific Limited (BKS) held in Perth today (Tuesday, November 30, 2004) a move by a dissident shareholder group to replace the existing Board was defeated by more than 65 million votes.

An earlier attempt to unseat Burdekin’s Managing Director, Mr Gino Vitale, in May 2004, was also rejected by a smaller majority. Mr Vitale said the result of today's meeting was a resounding vote of confidence in the company's management team.

"Our drilling program at Mt Kasi (Fiji) will be completed by the end of this year, a bankable feasibility study is underway, and there is every indication that our loyal shareholders will see their patience rewarded by the Company achieving producer status in early to mid-2006," said Mr Vitale.

"Drill results at Mt Kasi have exceeded our expectations, and even our base case will produce excellent returns for shareholders.

"While dissenting shareholders did not win the day many of them acquired their shares fairly recently and can expect very sound returns on their investments," said Mr Vitale.

The Company refers to a General Meeting of Members held today pursuant to the convening of the meeting by a group of shareholders who collectively hold 6.0% of the issued capital of the Company to consider the following resolutions:
•Election of Mr Colin D Patterson as a director;
•Removal of Mr Jerome G Vitale as a director;
•Election of Lindsay Colless as a director;
•Removal Ms Susan J Field as a director;
•Election of Peter L Gunzburg as a director, and
•Removal of Mr Bruce V Tomich as a director.

All resolutions were put to a vote on a poll called by the Chairman, the results of which are as follows:

For Against Total Result
Election of C D Patterson 107,126,112 172,291,840 279,417,952 Failed
Removal of J G Vitale 106,708,033 172,523,933 279,231,936 Failed
Election of L Colless 106,689,946 172,620,806 279,310,752 Failed
Removal of S J Field 106,683,345 172,439,421 279,122,766 Failed
Election of P Gunzburg 106,664,113 172,571,854 279,235,967 Failed
Removal of B V Tomich 106,810,899 172,033,567 278,844,466 Failed

The Company notes that the votes in favour of the retention of the present directors of the Company and against the election of Mr Colin Patterson and the other nominees equate to approximately 40.4% of the register.

The number of votes cast in favour of the Board was 1.6 times the number of votes cast in support of Mr Patterson, with the total votes cast at the meeting representing approximately 65.4% of the register. A record number of almost 1,200 shareholders cast their vote for the meeting.

It was noted that many of the shareholders voting against the present directors had only recently acquired their shares since the calling of the meeting in September 2004, or are parties associated with the convenors of the meeting, who include a former director of the Company (refer Notice of Annual General Meeting, ASX announcement of 1 November 2004, at page 10).

Detailed results of the polls taken for each resolution are contained in the table attached.

The result of the meeting represents a clear and decisive mandate for the present Board and management. The Board now intends to get on with its principal task of developing the Mt Kasi project and pursue the Company’s stated strategy and objectives for the benefit of all shareholders without further disruption.

Yours faithfully,
Martin Bennett
Chairman

That's what I call a great thrashing.
This now brings stability to the board, so they can concentrate on the Mt Kasi Gold Project.

Constructive comments & discussion please.
I hold bks
Always seek professional investment advice before investing & please read below.