Ann: Atrum Provides AGM Update, page-40

MR,

Atrum is the plaintiff, not the defendant in any court actions, so the costs are somewhat known. Besides, most of the actions will likely result in judgements for the company, thereby increasing the cash balance.

As for getting tenements back, I have no idea what u are talking about. BC have allegedly targeted Ground that Atrum was working on getting and this dispute will be handled by the courts, but this has nothing to do with Groundhog so who cares?

You sound enormously bearish so I assume you have borrowed stock and gone short, but the short interest on asx is tiny, so I am stumped? Additionally, you were bullish at $1.50, now bearish at 40c. I just can't understand how you could think that the business was worth >250mn less than a year ago and now think it's worth <100mn simply because of a delay in permitting and financial trouble for 2 ex-directors.

I'd love to hear your reasons for this seemingly enormous valuation adjustment.