agm prospects in 2008, page-53

“you rate management highly."

Yes certainly no-one would have believed it was possible to achieve what they have done at Avebury. For the most part under extremely difficult circumstances financially. One of the keys to the success of the company has been to recruit the best in the business and it certainly has worked for them.

"They are currently burning capital at a brisk rate by mining avebury since July and look like continuing until mill start up sometime(hopefully anyway)in 2008.Stockpiling for this long is not smart,its certainly not a clever way of spending capital.What if there is another "unforseen" delay”

I think Id find out a bit more about mining and whats going on at Avebury before I started making comments like those above, they tend to hurt your credibility.

Stockpiling of ore is done so that if there is a delay with mining, then the processing plant doesn’t have to shut down, and the company has zero cash flow. Not smart at all despite what you may think!

It was dissapointing that Metplant suddenly announced a delay out of the blue and the company had to unexpectedly revise their plans but its no big deal at all. Up until then the only ore that had been stockpiled was that which they had mined during extensions of the decline and access drives for mining propper.

Of course they are stockpiling at a greater rate now; they announced the introduction of a second “bogger” recently. Your advice to not stockpile now that the processing plant is almost complete is just plain silly- come on…..

You are quite out of touch with the time schedule- the processing plant is due to start up early in the 1st quarter 2008. All is running to timetable at the moment for late Jan early Feb start. Im sure AGM is keeping VERY CLOSE tabs on Metplant so another unexpected and embarrasing delay doesnt have to be announced.

“They also had their chance to utilise the Renison plant but have not given any clear reason for not pursuing this option.no stone should be left untested or unturned to get cash flow and avoid the real possiblity of yet further debt or dilution”

Not really sure what your saying here. I think you are suggesting that a year ago AGM should have used the Renison processing plant under the most unfavourable terms suddenly demanded, and provide that said company with huge profits while AGM barely recovered costs. Cant see that that make any sense!