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Seuss

I disagree about waiting and waiting. We have already waited a long time for drilling "non-results", then we have been fed a two word explanation "technical reasons" for the non-results, despite having at least 5 drilling rigs on the job.

In my view this simply isn't good enough.

Then we have had foisted upon us a new MD with no coal exploration experience. Fortunately for us, his appointment is provisional until approved by shareholders - so we one day will have a chance to demonstrate disapproval by voting down his appointment.

I'd like to see the Board articulate a detailed strategy for BWN so that their employers - we, the shareholders - can hopefully gain some confidence in them and also criteria by which to judge their performance.

To date it hasn't been very inspiring - we were told we were on course for a JORC estimate by the end of 2008. We didn't get that and now have no idea of when we will have one. And it is looking very much like Bhushan have managed to get control of BWN (via their current Board majority) while holding less than 25% of the shares and without paying any kind of control premium.