Ann: Non Renounceable Pro Rata Offer of Options , page-10

re: Ann: Non Renounceable Pro Rata Offer of O... Delta I'm with you re the vast potential of this stock however you are incorrect regarding the administrative costs and salaries of Uranex full time staff and directors.

Just to clarify at the moment there is only 1 full time and 1 Part time staff member in the Melbourne office. The CEO Rod Chittenden and the remaining board members are based in Sydney.

Admin costs are now $500K per quarter which is well below the average of $1 million and above per quarter Uranex were operating at when the market was more receptive in 2010/2011.

Directors fees are $220K for the whole year. Where did you get 4 x board members or full time staff at $200K each?? Chittenden as CEO is on around $180K and I am more than happy with this as I believe he has been quite good during a bloody tough and trying period.

At least Uranex is no longer solely a Uranium focussed business. The business is now dynamic on many fronts with Graphite being the mineral that will most definately be the company maker.

I cannot wait to get my hands on these 1c options which are due this Friday for payment. As far as I am concerned this is my opportunity to get in at the absolute bottom as this could be another Syrah and MORE.

Strike length already 9km and COUNTING.........