Ann: Hong Kong Dual Listing, page-248

So what price did the long termers buy at, I am sure it would be more than double what the current price is.
You have ROH, who has posted he is happy to get a 10c dividend as that would be a 20% dividend to him meaning he bought at average of 50c. Now with all those years of a buy sentiment and ramping constantly, he has obviously not bought any shares in the past 5 years or more.

Just pointing out that the rampers do not seem to follow their own mantra.

Then Max who got badly burnt in 2010 with a margin call says he is again buying shares using a margin loan.

Back to the current situation. OW have the OK from shareholders to buy 24 mill shares at$1.25. Sino strike price for the electricals will be similar.

Then we have the $6 mill cap raising in Dec from what is supposed to be a huge Chinese investment firm and they tipped in only $6 mill. And then you have the mysterious firm given options at either $1.25 or $1.50 for introducing them. What is going on, would not Cameron have known about this huge Chinese investment co.

So you think WM is going to pull a rabbit out the hat, remember on top of the OW $30 mill, they need another $30 mill to get them to the cash in bank needed for Chinese listing plus the listing costs and advisers, that is easy another $3 mill, then you still have some capital to go, a furnace plus sundries then you have to have cash to pay wages and interest until the plant is commissioned, not to mention the costs of commissioning. So they need OW $30 mill plus probably another $50 mill cash.

And these shares will be issued at no more than $1.25. So thats $80 mill of shares plus Sino $24 mill of shares so all up another 83 mill shares to be issued added to the 249 mill already issued and you have 332 mill shares plus a debt of around A$80 mill. Did the chairman not say that the project was fully funded when shares were under 200 mill and no loan, and you have confidence in this guy ?

It is obvious that they really had no idea of the cost of teh project, the plant was $200 mill then $250 mill, now it is $300 mill, nor did they have a coherent plan to raise equity.

All the information above can be worked out from company announcements or what was said at the EGM. Max said they need $60 mill in the bank to list or 125% of estimated working capital, other posters have supported that number.

So tell me what I have gotten wrong in the above. Do you have an alternate hypothesis or will just post downramper shorter again because you are not able to think of anything else.