Ann: Notice of General Meeting/Proxy Form , page-23

I have held shares in Beacon since Darryl became involved. I did so because of his track record with Indo Mines and the way he developed the company, including securing cornerstone overseas investors, and forging the right links in Indonesia etc. In my book, this was one hell of an achievment in that country, or any country.

Darryl isn't a mug, as some on here are trying to assert. Darryl recently gave an open invitation to Beacon shareholders to ring him, so he could directly answer any questions they may have and clear up any ambiguities etc. I don't know why more people on here don't do that, instead of merely speculating about things. He is a very approachable guy.

Anyway, I decided to ring him and this is the essence of the conversation. I asked him why shareholders were left in the dark regarding the negotiations with RMS etc. He said he couldn't make any statement to the market without prejudicing the the deals he was discussing. A 'deal half done' announcement wasn't on obviously. This is a valid point I think.

He also added that although the results from Barlee were a bit disappointing, a review was showing some new potential and he didn't want to downgrade Barlee value during the negotiations.

He mentionion Africa, and as another poster on here noted, he thinks it's interesting, if it can be purchased at the right price. He said he had actually walked the ground with his geologist.

I asked him what was so good about the Barlee deal. In summary he said (1) a good price for gold in the ground, (2) good royalty, (3) low risk, (4) no large capital raising, (5) no share dilution' , and (6) return to shareholders on royalties. I personally can't argue with any of this.

Barlee didn't deliver the Eldorado we all hoped it would; but the company is alive and ready for further opportunity. It's the nature of exploration and judgements have to be made based on best evidence. And I have no issue with looking at the African thing.

As I said in my previous post, as a long-term holder I'll be voting for the current management. As for the challengers, I know very little about them, but intend to do some research on Google and will post if I find anything worth mentioning.

The timing of all this is interesting, given the pending Kevin Rudd challenge for the Labor leadership. I remember when Rudd came on the scene as the new kid on the block, bagging John Howard and promising Australian's better management blaa blaa. Well, there's many people who actually fell for that one and now wished they could travel back in time.

Into the future, I'm remain confident Daryll has the committment, nouse and connections to bringing home the Beacon bacon.