The letter which JG has sent to share holders is his last...

The letter which JG has sent to share holders is his last desperate attempt to to retain his $500,000 salary.

He claims that that there are "...clear alternative at higher prices..." when referring agreement reached with ausdrill. If this is the case what are the other options? this sound like the typical hot air statements from the old MYG such as "finance is imminent."

JG claims with all his "skill an talent" developed mutiny gold into the one of the highest grade and lowest cost gold project in australia...How does his skill and talent improve the grade of ore?? Mutiny gold under his management is in fact one of the highest cost produces - zero ounces of gold produced yearly and 1 million in salaries every year. JG, to let you know that MYG cost is infinity dollars per ounce.

JG claims that MYG what a top 10 performing resource company on the ASX ????? Please JG, How stupid do you think we are?? I would had to think what my 65% loss would be if we where a poor performing resource stock.

He claims he reduced cost of capitol costs by 30%. Any one could have achieved this reduction, as australia is now falling off the investment cliff and contractors are drastically reducing tender costs as they compete for a drastically reduced pool of contracts, I know this as I work for a contractor.

JG talks about a maiden profit like MYG is producing gold. Infact the money was made by closing a hedge after the first large drop in gold price. There was no skill used in producing this one off profit and infact if JG had waited an extra couple of months before closing the hedge we would have made double the profit.

He talks about how he was the architect of the upcoming deflector drilling. If he saw this drilling as so important why did he waste the last capitol raised on drilling for iron ore.

JG still goes on about the opportunity to develop the rock steady iron ore deposit. What a joke. Show us the numbers JG what IRon ore price have you based you numbers on?? What is the capitol cost to get this ore out of the ground?


JG goes on about how is he is working on some finance model ...blah .. blah... blah. Heard it all before. When was the mine meant to be in production by ?? 2010 2011? i cant remember. IF JG cant get finance when the gold price was 1600 per once what hope do his methods have now.

VOTe To keep JG away from MYG and running up debt with his insane salary.

If he really cared about this company would have talked about slashing his salary.