Those reading this web-site from today will note the initial OIS (14 May 2009) has now been superseded by a Replacement OIS (29 May 2009). The proposal basics are unchaged from the initial document, and the meeting timetable remains as per the Notice Paper already mailed to Members.

On 20 June 2009 Members will vote (including by lodged proxy votes) to authorise a change in the Constitution of the Company. In the event of a "Yes" Vote, the Directors will be permitted to receive applications for up to 500 preference shares, in the manner set out in the Replacement OIS. ALL GOOD! VERY GOOD!

These steps are possible because the task has been shared by many including -

1. The twelve Members who volunteered funds to properly define the Glenfine resource - they know who they are!
2. The 24 different Members who volunteered funds to make sure, as one of them said, there is money "to keep the wheels on" - and again, they know who they are!
3. The unstinting efforts of our Solicitor, who carried all before him in that wave of infectious energy which he imparts, and
4. the Office of the Mining Warden, where on 6 occasions over the past 12 months the Company was enabled to stay on course towards developments at Glenfine.

Members should applaud this shared effort by voting YES with your proxies, and following up by responding to the Offer. Your entitlement form will arrive by post about the 11th or 12th of June.

The next step by your Directors is to progress to completion the stand-alone Permit for Work as applied for to Heritage Victoria. This step is proceeding in parallel with the proposal before Members set out in the Replacement OIS. Heritage Victoria have written advising how this is to proceed.

More to follow I am sure. Members wanting to know how things are going can always contact me on fhunt@mountrommel.com

Fred Hunt
Chairman
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Previous Chairman's Outlooks

15 May 2009
28 April 2009
22 April 2009
09 April 2009
03 April 2009