agm summary, page-7

nice summary ozelectric,

Adavale, the dispute is about Reward paying 40k to have to conduct a meeting in Brisbane. MR believes that RWD's tenemants along the Warrego fault are preferable to those held by Sirius due to the target evaporite being at a shallower depth. Sirius has been willing to foot the bills put forward by the TO's. RWD targets to drill close to previous Bury 1 hole.

Lake Mackay, as Oze said proposal put forward, yet no response has been recieved to date. 200ktpa operation.

Lake Disapointment, 120mil capital cost (assume this is AUD) may be a little light on.

Nothing too much to report on the other evaporite targets. No developments farming out interests here.

overall its positive that we should have an answer on LD in June, however disapointed on the lack of progress elsewhere. Mick has gotta stop being so cheap, for things to get done cash has to be spent. Plus I really hope that Mick is kept at the back during any ongoing negotiations.