Support from the mine, page-8

Of course we did. We suggested appointing additional directors to ensure accountability. McGlinn can end this tomorrow if he puts Bakker and Nikeas on there at a minimum. As of now he answers to nobody. Board is able to be managed with impunity as Andrew Hunt will never oppose McGlinn in our view. We don’t believe he will ever agree to this. Our position is the new directors need to be appointed by the shareholders, not be more pals of the incumbents.

Hunt is a great guy and we like him a lot but he will never oppose the Chairman in our view. Therefore McGlinn’s tie break vote is equivalent to a one man board.

We very much like Treyvaud and Mottram. They are very highly qualified and the company and shareholders are fortunate to have them. It would appear to us they are not in a position to have any influence at the board sadly.

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