ayn general meeting - 15 july

I support the share issue and will buy the shares, having sold other stocks with less potential.
In times where there is very limited funding $ around and a falling silver price, they have done remarkably well to obtain funding at a time when needed.
There are several positive developments. I have 2 sources (one with a 100% record who I should have trusted) who both expect physical to not do much in this US summer (our winter), but after that for gold/silver to fly. Sorry, can't say more about that.
Also other positive developments:
www.gata.org/node/12739 [Indians running to silver]
www.gata.org/node/12735 [Comex to run out of gold soon]
www.gata.org/node/12734 [Massive gold buying in East]

Also re-read my post of 2 July:
-proof of manipulation, which is unsustainable
-and why AYN production costs will fall to ~$15/oz (stated as shareholder presentation).

Ultimately you have to take a view about future silver price... if you think it is staying down, then look elsewhere such as blue chips (with awful p/e ratios), else support the company's share issue.

The next step is General Meeting on 15 July, way over in Perth so too far to go.

There are so many resolutions to go through, and not sure whether to support them all, so feedback by gurus out there would be appreciated:

#1 & #2: Some at this site aren't fans of Bergen Capital, so not sure whether to support this mob.
However, AYN have already proceeded with them, and issue price was 1.4c, so maybe best support directors judgment.
As I understand:
- #1 raises $1.25m ("First Bergen" from explanatory notes) for 16m shares and 13m options.
- #2 raises $0.25m ("Second Bergen" from explanatory notes) + $0.75m ("Third Bergen" from explanatory notes) = $1m
It seems Bergen already paid $2.5m on 26/2/13, but we shareholders are to vote for a further $1.5m.

#3: YA Global - I assume this is a Yes. However, there are links to Bergen ("First Bergen" from explanatory notes)
so not sure whether that is a negative.

#4: I assume a Yes, but would to know who this issue is to, or is it just general approval to issue shares?

#5 & #6: Celtic Capital - I assume this is a Yes.

#7. I assume this is a Yes.

#8. Issued shares to Shareholders - Definite Yes.

#9. Free Options to Patersons - Not sure why - anyone know?

#10 - #12: Re-election of directors. In difficult times, these guys were impressive at Shareholder presentation.

#13 - 17. Employee Performance Rights Plan - I am undecided about this:
-On one hand, Directors need incentives, not just salary. My parents own a pub, which was largely unproductive until the manager was given a share of profits.
-However, in AYN's current financial situation requires savings as per Slide 9, and that should include reducing base salary of directors. In annual report of 18 October, Reed's salary $281k should be cut by say 50% and replaced by shares.
$281k is equivalent to a lot of shareholders digging deep and fully subscribing.
The 2 new directors with zero shares should have a similar situation.
After all, at shareholder presentation they said money saved/acquired now is more important now than later.
I also think:
-AYN should answer emails, and
-put in writing their verbal statements at Sydney Shareholder Presentation about production costs falling to ~$15/oz.