voting against to all resolutions

Hi guys,

I've read a couple of the comments on this forum. I thought I would provide my view on the upcoming AGM. Please note this represents my view only and all investors are entitled to their own opinions/ views.

I'll be voting against all the resolutions in order to send a message to management:

1) SBL was under-capitalised to start off with. They did 2-3 capital raisings over a period of 18 months and each time they said it was the last and there was no need to raise additional capital. So, here we are, with a producing asset being taken over cheaply.

2) Management do not deserve any form of pay rise. If they are ethical and want to do the right thing by shareholders, they should step down and hand over the reins to managers who can offer their full, undevoted attention to a producing mine.

3) How are they able to conduct a share placement just 2-3 weeks before a takeover offer was announced? Was it just a coincidence that both the bidder and placee had roots from Singapore? I mean where is the transparency in this?

4) I thought the crusher would be installed and operational by now? I thought it was suppossed to be installed 3-4 months ago? Is it being done? If not, why not? Don't blame the weather. Weather will not delay it by 3-4 months.

5) Gold is above $1,700/oz, SBL is producing, yet the share price movements depicts that of an explorer who has turned up a few dusters & fast running out of cash.

I'm sorry about being brutally honest, but we need a change of management. No matter what their track record is like with other companies, obviously they have no expertise when it comes to managing a producing asset in West Africa. Maybe they are better suited to spruiking undeveloped assets with blue sky potential.

We need a change and a fast one. If we are able to change management & the board, the share price will re-rate straight away.

There is also a much needed share consolidation. I feel for all shareholders and for those who will be voting "for" the resolutions, I fully respect your decision. However, I will be voting against all resolutions.


Happy investing.