agm, page-4

Good evening,

Board completely missed the point in regards/relating to PR complains
some answers were cocky/arrogant bordering on rude (esp P. Wood)

They think we/shareholders want them to be rumpers and they resist, yet
officialy we still were not told (even during the meeting) what went wrong
with the plant. From chat after the meeting:
- there was not a single person responsible for plant/project, no clear line of reporting/responsibilities
- install specs were completely wrong
- not much of material was wasted but lots of things had to be re-done and lots of extra material was used + manhours

all above is history, board renewed, structered and line of reporting established for future projects, you get this feel everyone knows his place and responsibilities, as they said you can see "new culture" within company, very uplifting.

as for Uranium my take was as previously annd by the company, there is no way to spin it off as it would be nightmare in everyday oper of the plant, the most practical is to get this "impurities" (as desc by GT) using existing plant for v small fee to HNC and keep the rest as it's all CMRs. U is not a priority att and still under board discussion.

spin-off NSW/Peru, ~3rd Q 2008, board wants to execute it asap so all efforts/concentration goes to NT.

Seems not too keen on o/seas listing att (could be too busy getting house in order lately)

some suprise ann could be poss in future as not all tenaments explored as yet

I would like to thank for oly/westmoon/others participation and hope monthly reports continue, PR get sorted out

June concentration of ann's puzzles me a bit (like atomic bom. coming at us) but maybe it is a fruit of the company pulling their socks up finaly.

this is all my impression

thank you