Hi fellow shareholders. Totally agree with most ofyour...

Hi fellow shareholders. Totally agree with most ofyour sentiments above.

I would not feel too sorry for poor old Alex at thispoint of time though. He is probably ecstatic that his backside has been takenoff the barbecue plate with this move by shareholders. Whatever happens in thefuture he will believe he is no longer responsible for the final outcome.

Afterall it was shareholders who did not support him or his NEI plan, so theydeserve everything coming their way. From what little info I have about this NEIplan, my analysis leads me to believe it would have reduced the mines total netrevenues available to the joint venture partners by about 30 million AUS$. Just a furthersell out of their interests. Who actually believed this deal was going to see areplica processing plant and all the supporting infrastructure was going to beup and running in 7 months? He and his crew have been working on our one for 4 years.Also, has he done a deal with these guys regarding the supposed lithiumdeposits on the projects tenements without telling shareholders? He referred tothem I believe as our lithium partner.

IMHO moving forward if those in charge can achieve a96% recovery from the 4 pits then about 168,000 ounces could be recovered overthe next 3.2 years. Then based on present gold price and an estimated ASICranging from 1150 to 1,250 US$ an ounce I estimate total net revenue (before taxesand loan repayments) from the 4 pits would be in the vicinity of 87.2 to 104million US$.

Given all the money that has been fed into this project over theyears with the promise of more to be called for, together with the present unknowncurrent liabilities the total investment to date is anyone’s guess. I know thatcarried forward costs of the project as reported in the ½ year June 2020 reportwas (73.82 million AUS$) or 56.98 million US$ using todays rate. Does not look thatgood of opportunity to me now. In fact, as a result of Management’s poorperformance and their past cover ups it is starting to look more and more like the potential returns spun to shareholders by the company's Board and others were no more than make believe.

As for the other potential vast gold reserves on thetenements. They are presently unknown and IMO irrelevant. Needing more time andmoney even to put a figure on them let alone develop them. The project has alreadyimpaired (written off) the 6.3 million AUS$ expended on Kontoutou to date. Worthlessnow?

Like many, I at this time after 6 years of having been not being told the truth I am hoping just to get my investment back. Making money at this time, I will leave tothe dreamers.

I was thinking of flying to Perth for this meeting butrealized it would more likely be a fruitless exercise. This meeting is reallyabout appointing a new Board thereby giving them official authority toinvestigate the present state of affairs. I cannot be sure they actually knowanything concrete at this time.

All I want to know is:

How much additional capital is required to get the envisagedmining operations fully operational at a recovery rate over 90%.?

What would be the lead time required to achieve this?

Who will be the mining contractor Junction Mining orBCM?

Will the services of Andrew Goode be retained.?

What is the project’s total debt (all sources) at thistime? (BSR and MGO)

What are the total immediate costs to be met getthings up to date for example Auditor’s fees, wages owing, outstanding corporatefees and the like?

How much of this has to be raised and paidimmediately.
Is it possible to do a deal with Coris and other creditorsto keep them at bay until production is achieved?

Based on these answers – What total additional injectionof capital (immediate and short term) will be required to achieve the above.?

How do you intend to proceed with raising it.? All capitalor a mixture of capital and refinancing?

Finally, in your opinion at the end of the day is the project still viable if only to break even in the end?

You have your own no doubt.

IMO they will not be able to provide answers to any of the aboveat this meeting as presently they really have no authority to make theseenquiries. I doubt Alex and his cohorts would be helping them in thisregard. I did email Ian Riley recently re the current debt situation; his reply was I shouldknow he was not at liberty to provide me this info. Insider trading? Are youkidding me? Trading in lockdown for over 12 months. I just wanted to work out for myself if the project was still aviable proposition and whether my money was lost. I now know they are not goingto tell me one way or the other. Their advice would be kneel there and wait for the axe to fall. Nothing you can do about it anyway.

Apparently we can and will. Anything in an attempt just to get some honest answers for a change.

So here we are apparently swapping one Board full ofaccountants now with one made up of mainly lawyers. Let us hope they havebetter credentials to run the project and understand the meaning of the legal term“fiduciary relationship”. Which refers to the relationship requiring them toact at all times in the best interests of the company and ALL its shareholders. Not just a select few. One can only hope.

Based on what I have come to understand about many small cap mining company executives, it appears their only motto when it comes to money and performance is “Pedicabo vos amica.Ego sum bene” which roughly translates to “Bugger you mate. I’m OK”.

BEST OF LUCK TO ALL. Here is hoping the meeting goes well. All will surely be revealed in time. One way or the other.