bye, bye, jrv?, page-7

the solution is simple.
current situation:
3.5b shares call it 4bn (after some desperate future raisings.
management that have shown themselves to be unable to run a chook raffle.

So do a 10:1 consolidation. back to $400m shares. It maybe will hold 1c sp post consolidation.

sell or relinquish all tenaments. (But I'll bet that we cannot sell anything.)
Reduce expenditures to an audit + accounts + an annual meet. $30k pa.

Hang in there for the Bullabulling royalty stream in 2014 which should be $4m-$6m pa for many, many years.
Distribute all after tax income. should be about 1.2c per share p.a. given our carried forward tax losses of over $40m.

We also should have about $1m in BAB (Bullabulling gold shares)..unless of course mgt have sold those shares previously on the QT.

Now , Mr Purcell will receive(using very rough and ready projections) about $240,000 p.a. in a dividend stream!!. and then he can legitimately do very little for his money!