massive dump, page-26

Grgo I agree that the vanadium is the main asset here, but I wouldn't call the uranium a bonus. It cost the original YRR shareholders 130m shares and options. On a fully diluted basis that's 260m out of a total of 360m or 72% of the company. Remember we lose 72% of the vanadium to those who got free shares and in return get 28% of the uranium. Hardly what I would call a bonus.

Then there is the flow-on to GPN, where we have gone from 70% ownership of YRR to 21% which has had the effect of reducing GPN's share price from 4.5c before the first deal last May to 1c now. Obviously by dragging GPN below 3c, these deals have killed off GPNOA and now we have to pay to keep them alive. Can't really see any bonus here either from aquiring all this unproven uranium land. This is of course just my opinion.

Here's something else that GPN/YRR/AGU holders may find interesting due to the names involved:

Chameleon (CHM) is currently going through the courts with a number of claims against various people and/or companies dating back a few years. One claim is that prior to Cameleon's Bidder's Statement for Cadetta that no real investigation of the value of the Cadetta tenements was done on behalf of CHM and that the value of Cadetta shares was completely disproportionate to the value of the CHM shares offered in exchange under CHM's Bidder's Statement.

The CHM Statement of Claim goes on to say that 13m CHM shares and options were alloted to the holders of Cadetta shares in exchange for their 13m shares in Cadetta.

The CHM shares and options were issued to:

9m - Jamora
2m - Grand Enterprises
1m - Amy Scook
1m - Cameron Hardie

The Statement of Claim by CHM claims that the value of the Cadetta tenements in May 2004 was no more than approximately $274k.

This court action could drag on for a long time yet but I will follow it with interest.

Coincidently, the Cadetta tenements adjoin some of the Peak Hill tenements that GPN paid 450m shares and options to the holders of Desert Resources in 2005 to acquire.

It's such a small world!