avarice greed and our children's future

We live in revolutionary times.

On Mother ship Earth, there are forces at work now for which there are no precedents.

These forces are technological innovation and population growth.
Together they are putting an unprecedented strain on the Earth's natural resources and changing the nature of politics and culture.

I will defer here to Anatol who has made the connection between the growth in the Earth's population, the food crisis and the fertilizer markets with brilliant skill and attention to detail.

Our company, Elemental Minerals Ltd, through the hard work and entrepreneurial brilliance of Mark Jones and Garry Thomas, has discovered what is arguably the world's best potash resource in the Republic of Congo.

Again, I can defer any discussion of this fact to Anatol.
We, the shareholders of ELM, are owners of a resource that could potentially be in production, supplying potash for the global food growing industry for 2-300 years.

Think about it. Our company could remain in our family's hands for a dozen generations!

Yet we are faced now with arrogant, greedy and short sighted individuals that believe they can waltz onto the company register and treat our company as their own private play thing.

Driven by nothing more than the avarice and greed that has seen financial systems and even empires collapse under the weight of short sighted misallocation of capital for short term profits, these people are infecting our company for the sole purpose of their own enrichment.

We live in revolutionary times.

The time has come for all the minority shareholders of ELM to shoulder arms and take action.

I have committed my resources to Anatol and together we can all fight for what we believe is the right thing for all ELM shareholders.

We will not judge you if you choose not to join us, but we will welcome and support you to the best of our abilities if you do.

Please take the time to consider fully the implications of this foreign infection of our company, understand what is at stake, and take the action that we each determine to be the right thing to do.

Please do not do nothing!

The virus that is attacking ELM feeds solely on the propensity towards inaction by the minority shareholders.

We can now longer stand idle whilst this pestilence feeds on the hard work and diligence of others.

Messrs' Macpherson and Sanders have, IMO, done a commendable job in developing the Kola discovery to its present outstanding shape.

The allocation of stock and options to Mr Middlemas is generous but not offensive to me.

There are extenuating circumstances in that the option pricing was completed during a period of extreme upwards movement in the ELM price as the market began to factor in the implications of what ELM had discovered.

As I understand the facts, these stock and option issues were simply ratifying contractual terms that these men entered into when they joined our company as Mark Jones built a team that could deliver his vision.

This is where my agreement with the proposed resolutions end and my vehement objection begins.

As Anatol has mentioned, Mr Stalker has contributed nothing to the development of the resource but I understand he has made a commendable contribution taking our company's story to the institutional market.

However, his actions howl down any of his words about acting in the interests of all shareholders.

His actions in attempting to take an obscene amount of stock and in-the-money options along with his drive to take us to a TSX listing smacks of arrogance, ego and self-interest.

Our company does not need another time wasting and expensive listing in order to raise the capital needed to fund the development of our asset!

Blind Freddy could raise the equity required to develop our potash resource!!

It is simply ridiculous to argue that Canadian institutions understand the potash industry better and will pay a higher premium for our stock.

If that's all we wanted, why not list on Hong Kong?

The Board should be focussed on optimizing the development of our asset, not trying to get a higher premium for our stock price!

This action, again, smacks of short-sightedness and the desire for a deal and a fee over the long term benefits of you, the shareholders.

Mr Stalker is a corporate financier, as a scorpion's nature is to sting, Mr Stalkers' nature is to do a deal and collect a fee.

I have nothing personal against Mr Stalker.

Just as I wouldn't blame the scorpion for trying to sting me; nor do I blame Mr Stalker for his attempt at self-enrichment to the cost of the minority shareholders. It is his nature.

But is this the type of person you want have controlling the future development of the most significant potash resource seen in a generation?

Remember, this is your asset! Not the board's asset!!

I urge all minority shareholders that are desirous of seeing our company remain in strong holds for the benefit of our children, their children and their children's children to VOTE NO to Resolutions 3 & 7.

If option holders exercise their 20c options to whatever extent they can this would be of great assistance.

I will be happy to discuss any questions anyone may have in regards to the voting process and assist you in submitting your votes.

I am in the process of formally requesting the company share register in order to get this message to as many shareholders as possible prior to the May 18 meeting.
The board may well reject that formal request which will only reinforce the view that they are not acting in the interests of the shareholders which will then be grounds for further action.

This may involve raising a fighting fund of sorts but more on that later.

For now, time is of the essence.

It is vital that those of you that are committed to fighting for what is right - optimizing the development of our potash resource for the benefit of ALL SHAREHOLDERS - take whatever action you can to find 50.1% of votes against Resolutions 3 & 7.