agm

Hi All,

I attended the meeting this afternoon, Benny charied the meeting with 11 attendees and all resolutions passed with only 2 or 3 "fors" and no "againsts", it was over in about 7 mins.

I then had a good chat with Simon who is "hopeful" of getting a shipment out by years end. He explained about a lot of sovereign rigmorole envolved in dealing with local authorities and getting the mineral transported to port.

However he assured me there is a lot of Manganese of high grade available, the deep sea port is ready and processing plant ready to do 30,000 tonnes per month (or even more).

Grimaldi was mentioned and he owes Kupang $50,000,000 (first time I've heard this figure). Of course Grimaldi is using delaying tactices and just how much Kupang will actually get may be much less.

So a few hopeful maybes in there but if they can get the first shipment underway then I think we can expect some nice cash flow.