meeting report and questions to tim lagdon, page-8

Bripoz,

Thank you for your feedback..it's much appreciated

Human nature being what it is, it would seem by their reaction to your post that a lot of holders are comforted by your words and now feel better about their investment and those running it

For better or for worse, I'm not that easily swayed

I have spoken to Tim a few times and I've heard those same arguments. I do not know enough about the intricasies of mining to argue about the technical aspects so I will accept what he has to say about the process of explorer to miner and also accept, until the contrary is proved, that he has the ability and passion to guide the process

But he got to field the easy questions

I have read the Notice document a number of times and quite frankly am still stunned at the extent of the largesse that these guys have now secured for themselves. Yes, they have to reach certain levels before the incentives kick in but I refuse to accept that ANYONE is either woth, or entitled to, the rewards that are on offer

People, we are talking about 100's of millions of options and performance shares that could now potentially vest with people who are not involved in the day to day operation of the company, but appear to be benefiting massively simply by some spurious association with the company

Perhaps Tim could answer this:

What is Andrew Kent to this business that he has been allocated literally 100's of millions of options and performance shares

Why do people like Dean Felton get to participate at all? He is a partner in a consulting firm which consults to EXM one day a week as I understand it. For this he gets remunerated very generously . He also earms fees as a non executive director. So he must now get millions of options too because he is associated with the company?..NONSENSE!!

If I consult to NAB, they pay me for my services. Should I then be entitled to options in their company based on NAB's shares hitting a certain value?..of course not!

Same applies to Mark Smith. He gets paid for all his accounting work.Fair enough..but now millions of options too. Why??

Incentivise Tim by all means, but I challenge anyone to show me instances in any other listed company where the generosity is so massive and widespread

Bripoz, you say " what you shouldn't do is stay and complain" I disagree.

I have a right to insist on a company that I partly own to be run in the most efficient, transparent way. If someone came tomorrow and said they are building a quarry in the vacant plot next to your house, would you say " no worries...I'll sell tomorrow and find another house?..Of course not. You'd stay and fight it. Packing it in simply empowers those who wish to take advantage of you