chairmans letter, page-14

Hi Hilohi,

Maybe you are right, but that is a good thing isn't it.

I was leaning strongly towards YES before hand, and this letter has not swayed me to change my mind. My resolve is strengthened.

In fact, this is probably one of most concise and open announcements that I have ever read from any company. Many people will still disagree with the transaction, but the Boards reasoning is well founded in my opinion.

The letter openly states there is risk with giving 51% ownership, but we already knew that. They have an opinion on that matter, and I trust them. A lot of this may come down to trust (of someone). If you go through life with mistrust, then you will just make it harder to succeed. I realise you can be bitten, but it doesn't always have to be the case and we always say, what doesn't kill you makes you stronger.

My hat is off to Don for this letter. It is plain english, easy to understand and provides sufficient answers and feedback for people to make an informed decision on this proposal.

Many may still object and vote NO, however, I do think more and more that a NO vote is a vote for continued negative cash flow, cap raisings (at discounts as stated), being bound by Barrick etc.... and a potential death sentence of FML in its current state, at some point in the future. I don't want FML to become CRE.

I can see myself (and hopefully all of you) making a lot of money out of FML.