agm results, page-26

Thanks James for the thorough Summary, apologise couldn't make it to fight the fight. Had work commitments and I live interstate need to keep the family fed.

Why was Mr Landau a little bit heated up when asked where all the funds for the previous raisings went?...the annual report gives some of that away....numbers are not the most recent..since Conti has not updated their website...2011 Annual Report we had $6.5M worth of Key Personnel Renumeration, compare this against $2.2M worth in 2010. From 2010 to 2011 that is an increase of $4.3M or whopping 200% increase in renumeration to employees.

In addition to 2011, check out the Consulting Fees charged for Corporate Advisory, Capital Raising, Financial Management, Provisioning of Directors etc...by OKAP, Doull Holdings, Scooby Doo Holdings...companies run by our Directors....

Wait there's more...we hired a new CFO this year..more $$$...add in our SIOC friend Mr Connie..we even have two company secretaries who get paid quiet a substantial amount of money...not sure what their functions are? Do we really need two? I would like to apply for one of these jobs, if there happens to be an opening one day.

For a so called growth company with a market cap of what $30M...and coal prices sitting at $88.52 today , that is a pretty heavy corporate set up....we don't need to wait for Vanmag to clear....gains can be TODAY by reducing the corporate setup? as an example do we need Mr Landau, Mr Brewer and Mr Turvey signing of on Announcements? Don't they have other entities which they are also Directors like KAB, NKP, RRS etc...which they spend their time on?What % of time do they spend on Conti? Mr Leahey has he even ticked anything this year? What do the other directors do? Since cash seems to be tight hopefully Columbia and Botswana are put in the back burner and $ are concentrated on the core mines. If other Companies are laying off staff?, why isn't Conti Coal looking to do the same? Instead would rather dilute the company by 40% via Resolution 5 for $10M?

http://dailycaller.com/2012/07/23/coal-companies-announce-layoffs-blame-obama-administration/

The Coal Report
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The Coal Report 2012-08-06 ... There have probably been 2000 layoffs so far this year from mining jobs, with talk of more to come. Companies large and small are ... The company was formed in 1997 as a spinoff from Peabody Coal. Business ...


Current Key Management Setup

2011 Renumeration of Key Management

2011 Consulting Fees