shareholders action, page-8

re: shareholders action cy7 Arithmetick – could not have put it any better –greed is our undoing.

Albie
– As you say Mitsui were what finally bought CRS down – that being the case you would think something is retrievable out of it all – they were supposedly only a minor party.
I would have thought that well before now the Administrators would have some picture of what lays ahead – maybe at the end of the Sept 06 quarter??? – but I am a man of little faith, especially where money is concerned.

-- On the 2nd last paragraph of the solicitors letter it says “--- retainer fee of $550 inclusive of GST. We will not ask for any further funds or charge any fees unless your claim is successful.”
That sounds abit of a worry to me – I know of cases where the fees exceeded the settlement.

-- As for being misled – well as in politics, what else would you expect?
*On several occasions the management of CRS assured me the forward sales were not a problem. Simple “Vanilla hedges” they said which were easily rolled forward.
*Regularly they said production would return to normal next quarter – in hind sight we realise this was never ever possible – they were trying to mine narrow veins with mechanical means not suited to the job.

-- Most probably more incompetence than dishonesty
– still it was very incompetent of me as an investor to still be holding the shares.
As the quote says “that passion for wealth which the gods have put into the human soul and by which they have made us all poor alike”