misled since 27/02/2001

Mr. Pursell keeps on reminding us that the new management team led by Mr.Norm Seckold has no mining qualifications, without the capabilities of developing the Young and Nyngan projects.

Well, he is totally incorrect, when you consider that being a qualified mining engineer has not helped him to develope both projects during his long reign as managing director. Mr.Pursell has been telling us that a new technology/process is very close.

Let me quote what he wrote on 27/02/2001 (yes,over 8 years ago) - " Jervois has gained access to new technology for the recovery of nickel and cobalt metal from laterite ores." Mr. Pursell has been having us on for all these years.

Another issue is project funding. I quote what he wrote on 30/09/2006 in the Qtrly report - "Recognises that at some stage a major partner will be necessary to bring the project to final feasibility and production." Again on the 31/12/2006 Half Yrly report - " At some stage a major joint venture partner will be sought." He had two chances with two chinese companies for possible joint venture partnership, and failed on both occasions.

Can we really continue to trust the current management?

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