pre meeting discussion

As I mentioned earlier, my first attempt at this went into cyberspace and I will try again, but an abridged version!

I really enjoy healthy debate on big matters and this is the best this forum has offered on WME for a hell of a long time.

I have previously stated my position, but would like to comment on a few of the posts, one of which has already been discussed about the influence on the Board. I raise again though that, the current Board have just as much influence to drive the agenda with their own program, which everyone assumes has no hidden agenda for keeping the lid on the price. I sincerely hope that is not the case. The proposed members of the Board will of course, have a clear direction from the shareholders that should they be elected, they will expect the share price to show true value which at the moment, it does not.

"C4" - Nice to see you back with your usual flair for speaking your mind. I will take one of the earlier posts indicating that a change of Board will see you back. You quite correctly stated that Leon is not irreplaceable which I alluded to and support. He is indeed a wonderful person with fine credentials however, wonderful people with too much on their plate, often cannot deliver the goods. For him to state that he will "review" his position, to me is a cop out. It reminds me of two of my senior personnel (in an earlier life) thinking they had me by the balls and tried to dictate policy to me. They forgot who taught them their trade and although time (and age) may have slowed me down, by me training their replacement technicians, it sent a very clear message to those who were retained and, the overall performance of the whole team lifted. Yes, I did sack them. Their would be any number of highly qualified geo's out there that would love to get their hands on this project. I sincerely hope however, Leon sees it through and get the credit he deserves.

"Dreaming" - Sorry if my earlier conclusions were wrong. Moving on then, with Gary Stokes (who was offered to the Board) currently in the thick of the actions in the Namibian courts for MAN (listed for today and tomorrow) for the appeal on the Orongo leases, I would have thought that with even a modicum of success, it would hold him in good stead for dealing with any re-negotiation of leases with Namibian stakeholders. After all, anyone can appeal leases without losing face and is a natural option open to a lot of companies in the mining industry; just ask Mr Creasy about that. What I am alluding to of course is that, I fail to see how any stakeholder would be offended dealing with Mr Stokes, or any representative for that matter, merely because they were following the due process of law open to them. If anything, if the Board thinks that they are the only ones who should be dealing with that matter, I worry more about that as they have under those circumstances, no succession plan in place.

"Lilly" - Great first post, thanks. I have praised the placement and performance options before so I will retract from that however, I also made reference just how difficult it would be for Falco to achieve a 15 day price range (over 75 cents) on successive days, in the absence of some major discovery due to natural retracements, profit taking or, (as sometimes happens) manipulation. The terms look great on paper for all three tranches but I just cannot see the current Board (based on past performance) getting this over the line without further assistance.

You are quite correct, nothing lifts confidence more than to see a Director buy his own stock. For the life of me why did Mr Johnston (in particular) not lodge his documentation when he settled "off market" (which beggars its own question) the 200k on January 30th....6 months ago! If that had been reported then, he might have got a big tick for that, now, alongside his co-directors they are seen to be at best, sloppy with their administration. Interesting that neither of the other directors hold anything but hand out options! For all his criticism, at least Mr Nikoelenko has put his considerable $$$ on the table publicly.

"Patong" - love the beach more than the post...."I spoke with management yesterday and they are fully of the opinion to keep it as is". Are you seriously telling this forum that you asked that question of either Messrs Johnston, Reisgys or Shanahan? I am unaware of any other "management" and the response is stating the obvious. Please refer to their stated position in the Notice of Meeting documentation.

That should do for now, my beer is getting warm and I hear a cold one calling.

Thanks for the input guys/gals.

I will be voting for the main proposals and probably not for the name change.

Ciao