Ann: Results of General Meeting , page-29

Hi acreage,

I wasn't after a sugar-coated version of events, that's for sure.

I appreciate your honesty.

"Damned if we do and damned if we don't" - it doesn't get much closer to the truth than that.

I think we're in for a very bumpy ride with the SP for a while, until all of these notes are converted.
What p!sses me off, is that the SP is already so low.
If they push it down any further they'll be converting at a rediculously low price.
This then makes it so hard for the SP to rise, because the smiling assassins keep stalling it to take their profits - while the rest of us are probably still in the red.

I feel sick just thinking about it.

BUT,

We need the cash to get this hori up and running, and there was going to be dilution whichever way we went.

I don't think this was ever going to be a win, win situation.

Lucky I'm long term on this one - although I think it's going to take a bit longer than anticipated.

Crap - another winter in the doghouse.

Q. From memory, was this hori going to cost approx $7 mil?