I think you will find that all this has already been approved by...

I think you will find that all this has already been approved by the shareholders.

The announcement for the new options was released to the ASX on 24/04/2009, when the shareprice was half a cent.

The results from that meeting was released and approved by the shareholders on 03/06/2009, when the shareprice was 0.6 of a cent.

I can't see what DM is on about with this, the transaction was approved by shareholders and when the price was around the half cent level.

The company only other option was to complete a placement at 80% of half a cent at that period in time when the entire world market had gone belly up and money wasn't around. This is over 12 months ago.

DM, you and me could be easily bought stock at around 0.5 of a cent, but he/we didn't instead he waits for the potential of the iron ore and the shareprice to move up on the back of the results and says this is not fair.

So, is DM going to take on the banks, cause they issued stock at half there current share price at the moment.

Move on DM, you had your turn.

When DM started as Chairman on 06/04/2005 the shareprice was around the 2 cent level, issued over 800 million shares and options to his mates, wasn't aware there was iron ore on the property and when he resigned on 26/11/2008 he left the shareprice at 0.3-0.4 of a cent.

It's option transaction has been approved by the shareholders, about 12 months ago.

The facts are;

. Massive iron ore potential, 3.5-5 billion tonnes of iron ore - issued by CSA Global report yesterday.
. Getting great drill hole results;
. planned to do further drilling;
. planned to have a JORC resource in the Q3.

I hold shares and the 2 cent listed options, and it was very hard to raise funds at that period in time for any company.