agm could be fun, page-3

Was just leafing through the meeting materials for BHP and I am left with a very sour taste.

Resolution 1 is proposing to buy back from MEC Resources $1.35m of BPH stock via a selective buyback. Sorry but what on earth is going on here, last lime I checked we still have exploration permits amongst other possible projects in the pipeline and we are using cash to buy back stock from another Breeze Company. BPH is primarily an exploration play - cash should be being preserved for exploration not some corporate cash merry-go-round.

This smacks of some attempt to marginally window dress the share price in some way to make it slightly more attractive in the future for yet another tin shake but more like cash in the bank for MEC.

My understanding that raisings in the past were earmarked for activities such as the PEP 11 drill. Just because there is some left over now does not mean that it should be used to try and prop up the share price of BPH and put some coin back in the till at MEC.

To cap it off an independent expert had to be engaged to say this is fair and reasonable (cost appears to be approx $30K for the report) and we are informed it is due to the belief that value of BPH shares will be greater than prior to the proposed buyback. The disadvantage as I see it is that we will be short over $1m in cash at a time when cash is king. This just doen't sit right

Here is a newsflash BPH actually progress something in your "portfolio" that may actually become a company making project and the share price would also increase. A million dollars might not get you there but its a start and its $1m less you need to raise going forward.

The amount of activity that goes on between BPH, MEC and Advent (see p.8 of Independent Expert's Report) is just incestuous and needs to be looked at IMO by regulators.

I took a position late last year for the PEP 11 Drill and have since sold down to a very small holding - my interest here is just to point out that there are some very ordinary things going on with this Company and investors need to be aware and do their DD very carefully.

Hopefully the message is already starting to get out there given that they can't seem to get the Cortical IPO away.

CoolioG