Ann: Results of Meeting, page-28

I would like to address some of the issues you have raisedhere MoneyBagsMalone, as this post feels like a CEO Josh Fegan sock puppet

1. “Ithink the management has earnt the right to keep their company.”

MoneyBagsMalone, you can’t be serious? You know AGH is apublic company that trades on the ASX right, and subject to the Corporationslaw? So no, it’s not their company. It belongs to the thousands of public shareholderswho invested their hard earned funds into it. These are the shareholders thatinvested at over $1.00 per share, which are now worth $0.03 per share, of a 98%decrease in value. If anything, management should move aside and let someprofessional run things. You could get some real talent in the market for the $905,000that is being paid to CEO Josh Fegan that might give the company a small chanceof succeeding.

2. “Those relocation costs could be all the travel Josh hasbeen doing to set up new business in Canada, Ireland, UK and Germany.”

MoneyBagsMalone – surely you are joking with that comment? Ormaybe you are a CEO Josh Fegan sock puppet? Any travel expenses are OPEX on theP&L statement. These “Relocation” allowances were paid directly to Josh Fegan,so they are not travel expenses. The truth will come out but I think the socalled “relocation” allowances are paying for CEO Josh Fegan and his family tolive in Mayfair or Park Lane in London. Like I said, the truth will come out.Imagine if CEO Josh Fegan and his family had to payback 3 years of rent to thecompany because he was exposed by shareholders like me.

3. He'sput like 8 years into the business and as the largest shareholder he has morereasons than everyone else to ensure the business continues.

MoneyBagsMalone – Again, 8 years of suffering shareholders, itis time for Josh to go. It is amazing he, Robert Meissner and the passive Boardhave been able to last so long. The arrogance and entitlement of taking homenearly a million dollars a year in salary, getting his rent paid in Mayfair orPark Lane and fat bonuses is totally outrageous.

Here is what is going to happen, and remember tolook back here when it does –

1. CEOJosh Fegan’s talk will continue

How many times has CEO Josh Fegan said that AGH will be breakeven?Every quarter for 2 years, maybe longer?

Why was AGH the only company on the ASX to be affected by theTGA import changes?

How many times has CEO Josh Fegan said that AGH is fullyfunded, then raise capital 6 weeks later?

2. CEOJosh Fegan will take on more debt or sell Peak

The Obsidian deal they did is terrible in every respect, alender of last resort by all accounts. But they will do another one with aneven more last resort lender. When they can do no more deals or load up the companywith more debt – they will then sell Peak.

3. Noone will come in to save them

There is no chance of a hostile takeover or any takeover, noone would want AGH, full of expensive debt, lender of last resort controlling a lot of theshares and entitled, arrogant management.

Nothing will change because CEO Josh Fegan is getting his $905,000take home and his rent in Mayfair or Park Lane being paid for. But you justkeep being a sock puppet for him, MoneyBagsMalone.