announcement out, page-3

re: announcement out and more2 Alecfra,

It's now Tuesday and still nothing. These spivs don't even have the guts to make a proper announcement to the market instead they put the details in the quaterly report. Maybe it was done to take attention away from other details such as the fact that they have only produced 5592 ounces of gold so far.

I hope they manage to get the placement away considering that the investors who participated in the last placement in June watched their investment lose 25% of it's value in quick time. So the way I see it is that those investors will not be too keen on taking more stock at $0.30. Maybe if they pay Bell Potter Securities a nice fat fee of 6% as per last placement they will find some investors for them.

Assuming that if and when the stock does resume trading at around $0.30 it will simply provide the spiv's mates who took stock in the last placement at $0.25 to start selling and make a profit. Make no mistake the sellers that were around when the stock was trading are still there and will resume selling when trading begins, whenever that may be.

The only reason the directors asked for a trading halt was to stop the share price from going lower in the expectation that they would need to do a placement to pay for this so called merger. I invite anyone out there to suggest another plausible reason for it. I have never seen a stock remain suspended for so long due to a so called due diligence process being completed.