Ann: Appointment of New Managing Director , page-11

Manila,

The guy has no experience at all with mineral sands, so getting a job paying $300k is fantastic - for him. I wouldnt have knocked it back if it was offered to me.

But what were the pre-requisites to do the job, what were they looking for?
And how can this guy get this project up?

And let me guess, for all the stuff that he won't know, like plant design, he will just rely on consultants, cha-ching cha-ching, cha-ching!!!!! How about sand mining contacts, the list goes on and on.

The share options, how many times have we seen it where they are never exercised.

Also, did you stop and think that maybe no one high up in the sand game wanted their reputation damaged by being involved? Or they think its near-on impossible to get funding or any form of offtake in this climate, so the project can't progress?

This board should be taken up to Coburn and left there.

Pep