Ann: TNG Mount Peake Project - Capital Expenditure Update, page-123

Hi Shacky and thanks for reply. I appreciate the challenge of thoughts.

I am still not convinced however. I can appreciate what you are saying regarding the mountain of work to be done after an initial SP bump GW gets in. Nothing in your reply however addressed the concerns relating to Biddle’s actions so far. There was nothing stopping him from praising Fishers efforts as is usually customary when someone has achieved good work. I still also hold him responsible for the Friday announcement which showed a lack of respect for process and good governance. For me, these small examples show that things are not changing. They did not take time or information for Biddle, it takes attitude. All it would have taken is for Biddle to acknowledge there is discontent amongst shareholders and he would help bridge the gap between the old way and the new way. Let’s assume for a moment that Biddle is the right man in terms of mining knowledge to move the project forward. Wouldn’t acknowledging the concerns and settling down the shareholder base be a priority? Get them on board and work through the issues rather than antagonise them with some of the examples provided? And those examples are completely in his control. I think Biddle needs to extend an olive branch by getting rid of PB asap and show more respect to all shareholders if he is fair dinkum otherwise even if he is the right man, he will fail because he has not earned respect or trust from the vast majority who have been burned by PB. I think GW gets that hence he has so much support from the grass roots. To sum up my position, if Biddle would like respect and support from TNG shareholders he needs to extend some olive branches and earn it just like GW did. To date, his actions or lack thereof have done the opposite.