vote no kowalick, page-20

I will be voting against Kowalick

After spending 3hrs/day for the last 6 years following and investing in mining companies; and comparing the style of management from ARU against other companies that I invest in (BSG, CMR, CSM ;Michael Kiernan days) I have to say that ARU is just not in their league.

They :

1) have definitely overpromised and underdelivered in stated time-lines of delivery (eg the Nolans Bore Met results, which were some 4 weeks late without a shareholder update) on a number of issues.

2) are re-active, not pro-active,

3) are the master of presenting the same information over and over with a different spin to different audiences

4) dont seem genuinely hungry to produce concete results

5) but for me their real weakness is their lack of substantive communication with shareholders / market on issue of importance

6) the market agrees with me cos it is inconcievable that a company with so much value could be trading for so little (36c), particularly after all the media exposure thay have had, and with the U resources and tenements they own.

I realise that the main commodity that they are selling is widely misundertstood in the marketplace, and that that would make their collective job just so much harder, but I do get the feeling from the unimaginative and predictable way that business has been conducted over the last couple of years, that they just dont possess the collective killer punch to to make things really happen

Where are the inspired business decisions? Where do I see evidence of really smart people running an enterprise with superior intelligence and superior business acumen!

I have been self employed for the last 20 years, and quite frankly if I showed the same level of energy and creative endevour as this board, I would be out on the street by now. Its a tough game, but those that play must be able to step up to the plate!

They just dont represent superior value to me , and I for one would like to see us look for someone new who has fire in their belly, a creative business brain................ energy and a sense of urgency.

I like AS . He seems like a real nice bloke............but in this world you are judged on results, and from the results that he has presided over for the last couple of years, I dont think that he has really cut it!

I think the only thing that may save ARU from drifting into a backwater over the next year or two, is the Laramide connection; and this has occurred more through good fortune than good planning. Laramide are focussed and hungry and I think that we will see plenty of action north in the sp, irrespective of what the board does.

Its time for a change