private party we are all fool fund mgrs too

Dear fund managers

Do you know what AXO management doing now?They did not fight for shareholder interest, but only for their private arrangement to get benefit from the company. The audited financial statement

The followings are from P.10 of Audited FS. It is actually f.king agreement signed by Schaus himself on behalf of all shareholders. Anyone signed this agreement to fight for company interest is f.king director.

Service agreements
In November 2007 the Company and its Managing Director, Mr Charles Schaus, entered into a new
Executive Service Agreement. The agreement is for an initial term of 3 years. Following this initial term, the
agreement will continue unless terminated. Mr Schaus may terminate his employment at any time by giving
six months' notice. During the initial term, Aurox may terminate Mr Schaus's employment by giving a period
of notice (or payment of an equivalent amount of remuneration in lieu of that period of notice) that is
equivalent to the remainder of the initial term, but no less than 6 months. After expiration of the initial term,
Aurox must give a minimum of six months' notice. Where there is a material change in Mr Schaus's authority
or other such diminution in his status as Managing Director, Mr Schaus may terminate his employment by
giving two weeks' notice of termination and, if termination is within the initial term, will be entitled to a
remuneration payment in lieu of a notice period equivalent to the remainder of the initial term, but no less
than 6 months. If termination occurs after expiration of the initial term, Mr Schaus will be entitled to payment
in lieu of a 6 month notice period. Aurox may terminate Mr Schaus's employment without notice in the case
of misconduct and in certain other circumstances.
In May 2005 the Company agreed to enter into a service contract with Krama Pty Ltd, an entity controlled by
Mr Michael Sillcock, in relation to the provision of Mr Sillcock~{!/~}s services to the Company as an executive
director. Other than in respect to remuneration, the board agreed to engage Krama Pty Ltd (or other related
entity) materially on the same terms as those applying to the managing director at that time, including those
provisions relating to termination and termination payments. Auriferous Mining Pty Ltd (an entity controlled by
Mr Sillcock and providing services in place of Krama Pty Ltd) and the Company are yet to conclude a formal
agreement. The fees payable for the services provided by Auriferous were revised by the board in
September 2007.

2) Why did they promise to give FLSmith and Siemens to $45m up until 31Jan09. AXO has only $36M now. Mr.Schaus must be GOD or someone who knew the arrangement of the project finance was completed otherwise how could he make such obligation to engineering companies.

The followings from audited financial statement

Contracts have been signed with FLSmidth Minerals Pty Ltd
(~{!0~}FLSmidth~{!1~}) and Siemens Ltd (~{!0~}Siemens~{!1~}) to engineer and manufacture the major components required to
commission the 6 million tpa concentrate production Balla Balla magnetite processing plant and related port
infrastructure. Contract negotiation outcomes include a schedule limiting the combined total payments to
FLSmidth and Siemens to $45 million up until 31 January 2009. Engineering work on the mine and port has
progressed rapidly through the second half of the year and is nearing completion.

WHAT CAN WE DO....IN AGM OR BEFOE AGM...?