In hindsight, with what has transpired between Alliance & Quasar...

In hindsight, with what has transpired between Alliance & Quasar over the preceeding 5 years, I personally believe that it is not in shareholders interests of any publicly listed company, to be in a joint venture with a private company.

Firstly private companies aren't obliged to comply with JORC, and any drilling results announced by Quasar in regards to resource estimates and reserves, have to be re-confirmed seperately to comply with ASX reporting rules, this in turn places a further financial burden on the listed entities.

Secondly, can we now take for granted that the grades reported by Quasar, so far at 4mile East & West are what have been reported by Quasar and announced by Alliance to the ASX, or are they richer.

You just can't help but wonder if the deception alleged by Alliance by our JV partners, transcends the covert and undisclosed surveys over Alliance's tenements, and other JV partners.

Have they been truthful with full disclosure on every aspect of the Joint Venture. The answer to that is the litigation of Misleading & Deceptive Conduct now being alleged by Alliance.

And finally when this situation we find ourselves in, is finally resolved, I, for one will state emphatically that I will not support the issue of performance options, or any other options, to our Directors until 12 months from the commencement of production.

In my opinion someone has been asleep at the wheel for far too long, and it would seem that nobody is prepared to take responsibility for the mess we find ourselves in.