any update from dml?, page-52

I have a different view of CFC, the fact CFC is using their holdings to stop them diluting is actually a positive. Without them we would be embarking on another CR and see our holding further diluted to eventual oblivion. They have called on a spill and got the banks involved. Can you imagine how they can access another $200-250m for expansion without sucking cash from shareholders or get more debt? Normally I would participate, but with historical very disappoint decisions (e.g. not even entertaining a TO of $1.70), operational difficulties and over promises (C1 over $3lb when in their analysis should be $2lb by June, total resources well overstated).

I do not belief directors are acting in the best interest of shareholders and will try every avenue to do a CR to keep their jobs. My reason for this is because directors doesn't own many shares, so don't expect them to act in our best interest, besides directors fees they rack in substantial amount in consultancy fees, DML is a cash cow for them in years to come.

Canyon or CFC I don’t really care, I belief there is an offer (probably a low one around 30 cents), and the Board wants a CR. If they can’t CR the banks are giving them no choice but to announce the next alternative. We are where we are because the board over promised and under delivered. The only confidence I got is that we are 90% from 52 week high, so hard to go any lower. If there is an offer, take it and run IMO.