Ann: Terms Sheet signed to acquire Mongolian coal, page-17

re: Ann: Terms Sheet signed to acquire Mongol... Couldn't agree more purring1!

Also, I have now spoken with Dawn many times & requested a call-back from one of the Directors......any one of the Directors would suffice, but not one has had the common decency to return the call!

This situation has gone beyond ridiculous even to the point when you speak with Dawn you can hear her in the kitchen making a cuppa......ever so professional! I feel a bit sorry for Dawn with the company (I use the term Company very loosely) placing her in this situation. I can only imagine how many disgruntled Shareholders have tried to contact Cape Range Limited. Every time I phone I get the same response - the Directors are over East!?! By this she means Sydney & each time I call back she gives me the same dialogue - 'Oh, haven't they called you yet - I will pass on your details again'.

It apears that the MD's Service Agreement (which was for 3 years), expired 07/09/2012. His track record for selecting viable projects is not good & the Mongolian Coal project may be another example - although this time if it's unsuccessful he'll probably pass the blame to Bluemont!

'Joe Cornelius
Mr Cornelius has entered service agreement with the Company on 7 September 2009. The agreement outlines the responsibilities of Mr Cornelius as Managing Director and terms including remuneration of $180,000 per annum. The agreement is for the term of 3 years, and may be terminated by either party giving three months’ written notice to the other. It was resolved in the meeting of
Directors on 31 May 2010, the remuneration to Mr Cornelius increased to $210,000 per annum.'

Cape Range Wireless was a joke and an embarrassment!

What a disgrace of a company. Their only saviour will be a back-door project given the sub 50,000,000 shares on issue now. But that's only if they don't issue more shares......the money has to come from somewhere to pay fees & expenses! Let's hope they don't ruin the only thing left going for the company - low shares on issue, by issuing more shares to pay them to do absolutely nothing!

Also hilarious (not) is the following:

Directors & Management Fees $299,199 (???)

Employee Benefit Scheme $89,340 (???)

Travel & Accomodation $83,455 (???)

Other Expense $129,039 (???)

Given the state of this company, you would assume that these people would make a conference call or Skype for FREE instead of travelling East......there are no more words to describe this bunch!