Its not realy tit for tat - I thought this was a forum for...

Its not realy tit for tat - I thought this was a forum for discussion which can present different points of view (This is good and I appreciate hearing good other points of view).

The current Board and Chairman HAS CHANGED significantly over the last two years. The Chairmans (Colin McIntyre) head rolled over the Burnuakura distraction and the following Chaiman has also gone. This distraction from Phillips River was because Extracts Peter McIntyre talked him into the JV). SN saved the Company from going down the gurgler by making a tough decision (critical timing) and negotiating the sale of the Meekathara assets.

Now a new Chairman, and two new experience Board Members as well. The new team has no soiled baggage. SN has done an excellent job in terms the operations he has been responsible for and with the funds he has had to play with.

As you may be aware Phillips River was unable to secure funding to get started 3 years ago and may have missed the boat - the distraction of Burakura was partially responsible for not getting enough drilling done at PR. Also 3 years ago we started to see a tightening of funding for junior mining projects.

There have been a great number of juniors that were unable to get projects up and running in the recent boom. But how long on average does it take a mining project to go from discovery to production - a long time - so it is very easy to miss cyclical peaks. Is not an easy business to be in!

Anyone disagree?