Challenges of the past should now be replaced with the...

Challenges of the past should now be replaced with the challenges of future.

I met with Garry Thomas a day before the meeting. He is a great guy, very humble with no sign of greed. He has a lot business skills established along many continents over very long time. He has a great amount faith that ELM that it has a world class resource and will be very successful in potash industry in the near future. He has in a lot of other projects which some of them are considered as hobby by him. I am very happy that I had to opportunity to to meet him.

I met with Mark Jones same day with GT. He is also a great guy who is again very humble, extremely dynamic and highly communicative without any arrogance. He still has a lot of enthusiasms about ELM even though he is a bit worn out by the board challenges. I am very happy that I had to opportunity to meet him as well. I will keep following him in the new projects which he will be in.

MJ and GT who are the biggest Australian shareholders of ELM were not in the meeting. We respect their decisions and reasons for not being there. The South African shareholders, who support the opposite side of the board were also not in the meeting either.

We were in the general meeting; me, Buccaneer, Radioactive and many others. We asked most of our questions which we asked here and brought our criticisms about the issues which we have concerns about despite all resolutions were already passed through the meeting.

As you know our concerns were mainly about the excessive amount of shares issue to directors and 30m share issue plans to instos and TSX listing. We are answered the share issues to directors are part of the contracts which they have been promised and the amount of the shares are not excessive but complies with common practices in the mining industry.

Regarding to the 30m share issues and TSX listing, we were also answered that they were necessary for raising the capital necessary for the 20 month long DFS and to be a developer.

Board members, especially Macpherson and also Ian Stalker answered all of our questions during and after the meeting, with patience and without any sings of frustration and arrogance, and tried to be very helpful even though we have been a bit hard on our language time to time. That was the first part of our relief about the newly forming board structure against the sadness of our "against" vote defeat.

During the meeting, "Start of Phase 2 at Sintoukola Potash Project" and "Managing Director's Presentation" anns. were also released to the market through ASX while they were handed out to us at the beginning of meeting.

ELM is now being a potash mine developer company but not only an explorer

New high grade potash target was increased to 1.88bt at 33.33%KCl (max.) on the anns. We accept that this is a huge amount, it should be put on top of the world class resources category. This is not low grade either, very high grade.

The reality now is ELM claims that It is not an exploration company anymore but it is a developer company as it already has a potash resource of 800mt and has alrady started its DFS which needs to be continuously funded.

We have to accept that a new era is starting in ELM's history from now on. ELM is now leaving to be an exploration company which was controlled by some Australian and South African investors, and is starting to be a potash mine developer company which needs to be funded by world wide investors for being a potash producer in the world potash industry.

From this point forward, challenges of the past should now be replaced with the challenges of future. And a new leader is needed for ELM

There should not be any winners and losers of those passed resolutions. Everyone should be a winner. Everyone is already a winner as we are all holding the shares of ELM which holds this great resource in its hands.

For reaching the new targets and goals, ELM should not leave its control in to the hands of world wide investors but should keep its board independent and develop a new leadership in the company structure.

This new leadership should be anonymously supported by the large Australian and S.African shareholders without creating much conflict for the sake of their large and our small shareholdings. The whole project can end up by the development of the resource or a very profitable takeover for all of us. Everyone, including directors should accept that "greed is not always good".

ELM needs a new leader for it leadership for achieving its goals. ELM can hire a quality leader or develop it from one of its current directors.

I have had a very long conversation with Iain Macpherson over the phone before and during and after the general meeting yesterday. I have had the impression that he is a honest, humble, patient, highly communicative person with very strong technical and commercial skills and experience, without any ethical lapses and arrogance.

I believe Iain Macpherson can be a leader who can motivate and coordinate a team-based approach, but won't be a "Lone Ranger" type of leader unlike many other stock market company MD and CEOs.

Iain Macpherson seems to have the leadership skills which will be understood as the collective capacity of all members of an organization to accomplish such critical tasks as setting direction, creating alignment, and gaining commitment. He is conversant in doing business internationally and capable of conceiving strategies on a global basis. He is up to date with international trends that are vital to the success of the business.

I.Macpherson by his mining engineer background is clearly much more savvy with regard to technology in general and now in potash business. Technological savvy is an integral aspect of leadership effectiveness. It is an avenue for people to communicate with leaders at all levels and whenever they need to at any time.

Ian Stalker, who has a chemical engineer background with mining and corporate knowledge and "extensive relationship" from the London and North American financial markets, can also be helpful for successful marketing, raodshow and capital raisings for ELM.