Ann: Notice of Annual General Meeting/Proxy Form , page-4

re: Ann: Notice of Annual General Meeting/Pro... Ok guys would like to discuss this further.

Understand that the company want approval to issue notes/borrow money up to 15% of the ordinary shares. I am reasonably comfortable with that.

However resolution 6b has me concerned as this means that the 15% rule can be disregarded and means that the company has issued more than allowed under the rules which will cause additional dilution so in that respect it should be defeated.

However,

On the other hand if it is not passed then the company will have to dip into its pockets and settle this with cash on hand. At the end of the day we will need to find more money unless we are able to finance future exploration and projects from revenue.

I know we need to finance this project and so I am clear this is only an approval for what has already been issued AND NOT future spending in excess of the 15%.

As far as the renumeration goes well I can't find the reference in the Annual report of $1.2 million.

Can you tell me where that is written.

I am happy with Directors etc getting pay rises as long as it is reasonable and commensurate with increase performance.

What I don't agree with is performance pay based on share price. It has to be output, productivity and returns. The SP can always be manipulated and does not readily reflect the true performance of the company.

Anyhow interested in what people have to say.

Cheers
BW