amazing, page-22

Hi bigbillbrown, you say it wasn’t intended for Vanmag, the Company say it was. No offence, but I’m not sure why I’m expected to accept your view over theirs ?

Sure I noted the $6m, it was an open and frank discussion on cash requirements for the year ahead, what company doesn’t have running costs. And did you notice that for instance $1.5m of that is for Loan Note servicing and did you also notice the announcements by the Company since on Loan Note restructuring ? I ask because I also remember you saying that not only do you not hold this stock but you also haven’t followed it for months, perhaps you are unaware of developments since the meeting.

I assume that the remaining running costs are spread throughout the year and in the absence of any evidence to the contrary, I assume that in the five months since the meeting they have met their obligations and continue to do so. Can anyone her demonstrate that this isn't the case ?

Since that meeting people here have posted that the Company was going into liquidation and that has proved to be wrong.
They posted that to avoid liquidation a highly dilutive rights issue was required within 4-6 weeks, that has proved to be poor judgement.
They posted that Penumbra would not go into production, wrong.
That the Company would not be able to access the debt facility, wrong.
That the remaining SA producing assets were spent, wrong.
That they would lot be able to fund the De Wits project, we shall soon see.

As regards selling assets, I‘ll be delighted if it means they achieve a fair value that in my opinion is not reflected in the current share price. Again, we shall soon see who’s judgement proves to be correct on that point.