Ann: SPP Closes Oversubscribed, page-4

G'day Nijiman.

"I dont know why they even bother to insult everyones intelligence by including statements in the offer docs about possibly scaling back over subscriptions."

It is pretty much a standard clause in all companies SPP's as I am sure you know. It is there to cover their arses.

I agree with them in accepting the money as they should not need to do it again for awhile. Hopefully anyway.

They may well need the cash if Idiland turns into a fizzer, which it could well yet do, so they can start again in Bolivia or some other little tinpot country. Maybe they could buy back Thudana from Sandfire but I bet it will be a lot more than $2 million.

What I would like to know is where were all of these, now very flush with funds shareholders, when the company needed them over the last few years??????

Lockitt