Where is AGM this year? Ideas for questions, page-5

Darryl

Other take-aways from last year's AGM were the attendance of Mitsubishi and Mota Engel (2nd largest shareholder) representatives.

The media campaign was based on the premise the Mitsubishi deal was completed and the management would have a story to tell. Unfortunately the deal hasn't been signed off by the Mitsubishi board (yet), but must still be there otherwise the company would have a duty to disclose that information.

Management has spoken to the investment community for a number of years and at this point they don't have anything new to tell. So no point having a media campaign. The market is saying "we will believe you when you have a deal or two".

Need to remember the investment environment (sentiment) for mining projects isn't favourable at present and few deals are being done.

I share everyone frustration regarding the time taken, but sometimes things are not straight forward and simplistic. As I've mentioned before, management haven't sold out the shareholders just to a deal. They are looking for value.

In saying this, I think management are fully aware that they don't want to come to the next AGM with promises and potential as their only story.