About this time last year a group of shareholders were very...

About this time last year a group of shareholders were very vocal about wanting a change in the composition of the directors. Most shareholders considered them as rebels causing a distraction to the board in advancing the companys iron ore deposits.

Fast forward nearly 12 months and ask yourself what has the company done without that distraction. To those shareholders that backed the board you now have your answer.

Also take the time to look at the last cashflow statement where administration costs were over 3 times the exploration expenditure and the projected administration costs for the current quarter also exceed exploration costs. That's how progressive and dynamic this company has become. No wonder there are no buyers. You can't get out even if you wanted to.