agm, page-17

re: angry sylvan and bungy angry

I doubt very much that one of the directors would lend to BRO if Canberra says no to BRO's proposal.

The problem I see with the proposed "loan" is why not buy some of the 600m shares indirectly?

Let's face it, which ever way you look at it, BRO needs an injection of funds and at current trading prices the shareholders who have pledged financial support (at up to 20% discount) would be paying as little as .32 cps.

Now here comes the tricky, or should I say sticky part:

Vaz knows it is unlikely that shareholders would fund a placement based on the current status of the company. He is also aware that a placement x .32 cps would be a totally unnecessary dilution.

My guess is that Vaz will wait for the word from Canberra before he considers a placement. Unless he has something up his sleeve that the market is not aware of, like the current status of the proposed acquisitions.