BALLARAT SOUTH GOLD LIMITED(BSGU)

company is now called E2 METALS LIMITED

company is now called NATIONAL ENERGY HOLDINGS LIMITED

the company will be holding its AGM by the end of November - details to follow at that time

apparently the company failed to raise the minimum subscription amount of $3 million under the prospectus (even though the prospectus was extended until 11th November)

a shareholder informs us that the company failed to raise the minimum subscription under its offer document by 14th November 2008

we understand that all resolutions considered at today's AGM were passed

shareholders are now being told by their directors that Ballarat South Gold Limited (BSG) "will apply to ASX to succeed to the Listing of Antaeus as a suspended shell (without any of Antaeus liabilities) on the basis that it is a top-hatting procedure (which ASX would normally agree to) and on this basis and (assuming it can raise $3 to $5 million and complete the acquisition of appropriate mining tenements), it will then have that suspension in trading lifted. All that could take 3 - 4 months" - further that, "In terms of value, BSG has no assets and it has 6,000,000 shares on issue. The value of a BSG share must be notional"

a shareholder kindly informs us that Antaeus has entered into a Scheme of Arrangement with Grabon Limited which has changed its name to Ballarat South Gold Limited - shareholders have been issued shares and options in Ballarat South Gold Limited as a result of the Scheme of Arrangement - a director Graeme Menzies has indicated in a covering letter that the transaction means that shareholders can "crystallise the capital loss on Antaeus for tax purposes in the 2005/06 year, but doesn't indicate whether this would be a complete write-off or whether there is a theoretical value based on the value of the Ballarat South Gold Limited securities issued" - once again here is a board acting without reference to their shareholders and with complete disregard of the fact the company is still listed