Message to the BOD, page-7

I personally think the small scale mining operation is the only way minority shareholders are going to get something back in a reasonable time frame of 2 to 3 years counting from 2023.

Less capital involved and ways to circumvent share dilution, not to mention the ability to pay off the capital quickly and value returned to shareholders in a timely manner through SP rise and dividends.

We don't have to be a Rio or a Fortescue. It doesn't matter if this method only gives 10 or 15 years of mining. It's a win win for all parties and Todd will still certainly reap enough benefits.

The world is always changing and there is no way of knowing the big picture for iron ore in the near and far future, because of China at home and through their developing iron ore mines in Africa, not to mention the needs of India that will need to be satisfied. We will also be embracing steel production through green methods such as the use of hydrogen etc.

After all the wasted time caused by Todd, now is the time to strike. This doesn't preclude future options of growth and change in direction as the market is assessed. It is hard to perceive how an organisation as big as Todd has not acted in such a timely manner with the iron ore. Absolutely unbelievable!

The development of a new port, and a large scale mining operation was forced upon us as the only option, but did not guarantee wealth for minority shareholders. The people with the large investments will always win whilst smaller shareholders have to pray and hope they are not cut out. Smaller shareholders ultimately can't keep up with the asked for capital raises or are excluded in the first place from them.

Of course return for minority shareholders is only guaranteed if this mining on a small scale and trucking to port actually happens. As PS and others have mentioned, we don't really know Todd's end game. However, even if there is a takeover before all this ore eventuates to port or even afterwards, minority shareholders have never had a better chance of getting some reasonable return on the money they have invested over such a long time, not to mention the incomparable frustration endured because of some selfish, entitled company across the Tasman sea.