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Spoke to the big cheese yesterday arvo. He seemed quite happy to have a chat. He mentioned that he’d also received an increased number of phone calls due to the recent share price performance and he would like to provide an update to the market ASAP. When I asked him about the cornerstone investor negotiations, obviously he couldn’t provide any details (due to the confidentiality of those discussions) however he did mention that they remain active and ongoing.

He added that only yesterday (Wed) he spoke to one of the original parties and that other parties were also still involved. Despite some of the rumours floating around, he reiterated that if cornerstone negotiations had ceased the company would need to announce this.

Another topic of discussion on the forums has been VWAP. He confirmed that the conversations to date do not involve VWAP. He went on to say that they were working toward an outcome ASAP. He couldn’t provide an exact timeframe but when I asked him if we were another month or two away he confirmed that it wouldn’t go on that long.

Cheers
Elpha

Note: my opinion and the above interpretation of my conversation with the big cheese should not be relied upon nor considered as advice of any kind. Please DYOR.