Ann: Final Director's Interest Notice, page-6

Well SB called .2 and it looks like we are heading there. As usual, the board is doing nothing to firm up the SP. Yes, they are doing things in the background but that does nothing for the SP. The market wants to see results and progress. All these projects and nothing is happening. Nobidium is the flavour of the month and we seem to have heaps at Lyons but nothing happening there either.

Just reading up on these performance shares. Does anyone remember what the parameters were for awarding these. It wasn't maintaining the SP that's for sure. And it cant have been for completing the acquisition of the project because that's a long way away. And correct me if Im wrong but Im not seeing any shareholder value at this point so why have the shares been awarded already?

"The purpose of performance shares is to tie the interests of executives and managers to the interests of shareholders. Performance shares have similar goals to employee stock-option plans (ESOPs), as they provide an explicit incentive for management to focus their efforts on maximizing shareholder value.

In the case of performance shares, the manager receives company shares or stock options as compensation for meeting targets as opposed to traditional stock-option plans where employees receive stock options as part of their usual compensation package. Thus, it is a form of performance-based compensation paid out to employees that have performed at an extremely high quality or have met or surpassed pre-set milestones or benchmarks.

GD