general meeting, page-10

Hi Dale,

If we can replace the current board, a capital raising to current shareholders would be in order - then after coring 3 holes we can get results to market and allow the stock to be re-rated. After a massive re-rating we can source equity from a better deal. I'm sure there are parties who are on the sidelines waiting for Bhushan to lose grip of the company so they can step in - And such co's will be there to take our coal in return for more permanent funding, and on MUCH better terms than the current "deal"


To summarise my view in a way that you would more easilly relate Dale, imagine BWN's assets are the equivalent of a Grumman Tiger - filled with 200L of fuel - and preserved in mint condition since it was built in '79. But instead of flying the thing and taking the shareprice to the sky, they've left the bloody plane on the tarmac and at this rate, our wealth, like the Grumman plane, has more chance of turning to rust than reaching the sky. SO we MUST do something about it and ACT now!