agm imminient, page-14

Re statement at AGM that no Directors have drawn salary over the last 6 months Dekski says:

"No wages have been drawn as there is no cash in the bank!"

Oh right, no money for the entire 6 months? You have to ask yourself why someone would make such an inaccurate comment, surely

The explanation is that funds have been used to keep the ongoing requirements of other tenements alive. If the company wasted other tenements due to funding blips you'd be at them for that. Judgements have been made to keep the tenements going.

"There are other ways to be remunerated apart from cash, if you believe this anyway."

If you believe this anyway contains the direct inference that management are lying on the point, and are not to be believed.

"There is no focus on any one thing. Next year we are going to be drilling for gold, base metals and uranium, on top of being the next FMG."

Well there are various tenements and there are priorities. The priority has been to keep the other tenements but to focus on SHIP.

Other comments containing inferences:

"Can u confirm that they said that 20 odd funding deals have been knocked back by the FRL people due to concerns of dilution? How about all the 3bs then?"

The company is compelled to make decisions in the best interest of shareholders. I cannot find anywhere that says that concerns of dilution apply. Once income comes on stream the dilution from the 3bs will surely fade into insignificance. They say that there are disadvantages with the other financing approaches. This could mean loss of control, sale of assets etc. Why would Rego know more than what has been released to the market?

"I believe they are waiting for deal terms that will be favorable for certain parties."

Well no info in that comment, just smear and innuendo. It sounds like Abbott trying to pin vague allegations onto Gillard without any evidence.

I am happy with what is in the AGM report. It confirms what I'd suspected about the funding deal being linked with european banking interests, and had stated in here to that effect. The crisis in the EU meant banks were suddenly in reverse gear on lending overseas, right at the time when the IO price was tanking. Both situations are recovering.
Why not rethink your stance Dekski?
Are these our so called financiers or the gurney group. Either way no info or credibility on either of them. I believe they are waiting for deal terms that will be favorable for certain parties.
Wonder how we are paying for this also. All smoke, mirrors and delusions of grandeur.