get rid of them, page-10

So once again when its time to perform our Chinese friends have bent us over and further destroyed any remaining semblance of value that was left in this company.

This is how they roll and it should have been obvious the way they limped us along from day dot as to what they had installed.

CK i disagree and they are not entitled to a discount as these guys are the ones who have decimated the SP and i dread to say some more pain is coming whenever the suspensions is lifted.

I have never been convinced by these guys and if positioning for a takeover they have done it beautifully. The way they didn’t pay up for tranche 4 but came back and said we will do something bigger and better brought them more time. They have dragged this out to the end and without a very strong plan B they will be able to make an TO offer at bargain basement prices and given managements performance to date and a lot of holders will seriously consider it.

So what is plan B? We don’t know but it better be pretty impressive. Given Timeone and Co were our first option and we have continued to accept continually delays I am concerned plan B cant be that strong as we would have headed down that path when they failed to adhere to the tranche payments required.

So what is the take on management? I noticed a few of people hoping this delay was merely sorting 43 legal docs but that seemed optimistic and todays ann clears that up – Timeone and Co have reneged and they very well would have known the havoc it would case in doing so. So these guys are clearly in it for them and them only and no interest in the shareholders – classic move wait to the 11th hour and start issuing demands.

So management got the CAPEX wrong by $350m and now the selected partners has turned out to be a wolf in sheeps clothing. Do management take responsibility for selecting and persisting with these guys or is this again bad luck and its no ones fault? Since native title agreement this has been a slippery slide downwards. I do respect that they didn’t get bullied into pulling their pants down at the 11th hour but what next? I pray that plan B is a solid one as I cant see how we can continue to be controlled and manipulated by Timeone and Co as this seems to be never ending – you cant do business with people like this!

Phantom i too unfortunately feel the same way and this is exactly what a group like this would be wanting to see.