Ann: India Project Update, page-133

I put in here that this is my oppinion below and i dont want any one to think its a ramping thing because i dont want any shares in this company unless it turns its self around. I was intrested once and am happy i did not buy back then because this thing is a messy situation right now. This is why i thin k it is a mess. A lack of sensible decison making based on bussiness stategy.

The arragence of Ects directors and main share holders is what gets me. 

Its been months and a year or more that they have read on this forum that share holders are not happy with the rate of pro gress. And share holders on here have said loudly that the company is being taken for a long ride to what could be no where. 

But the directors and main share holders arragence ignored it and they voted for rises in remuneraton and option bargans for managment any way.

After the last vote in november they got there extra raise again and share holders on here knew that sunset cloarses would not be met and other promises from india would not be met. But ect Directors would not listen still to any negativty. A new member stocktalk tried to keep the negativty tucked away from the most discused list on hot coperr to. negitive members wer tried to be shut up by others who did bad mouthing of there oppinions. Some times it has been down right rude and socally unaceptable. But it has never been in the intrest of a bussines thinking considrations.

Heres an example. There was that concerted effort that some one talked about last week but it was to shut up any one that critisised the direction of the companys decisions. And now we have exacly what the critisisers have been saying. Management have expresed a reson to walk away from the deal and if that reson comes up may be by the end of janruary then they have threatened to drop particapation in the RCA with NMDC and most probably the whole india connecton all together.

What annoys me is that this point has only come not from from logic or from taking into account events from the last year which could have been aknoledged sooner but they have only come now when directors and a couple of main share holders have had enough. Why now? Why not 6 months ago or a year ago because of the same cercumstances that exist right now? Some one has sudenly become sick of the show.

Are management and directors acting for behalf of all share holders or just a few? Are they acting for the company as a whole or just for a few share holders that are telling them what to do? In my oppinion they are not acting for the company as a whole but only for them selfs and a few main share holders who have the numbers to sack them. And its my oppinion that they dont want the word fail to be on there resumee insted they want it to look like they walked away from india like strong leaders. Theres no fooling me i am open to the idea that forces other than acting on behalf of all share holders in the best intrest of the company as a whole have been controling this companys direction for the last couple of years or at least 6 months.

I said late last year that the show was over for the india hype and that no singing would make the share go up because india could always pull out in a year or two if they didnt like the results of the RCA. Now ECT say they reserve a right to walk away too. So nothing is solid with this RCA nothing is certan. The singing means jack all to confadence that a plant will be built. So at the end of the day these unproven industry process tecnologys may not even become proven industry process tecnologys despite a singing. The show is over with the singing hype. The india show is over in genral.  I dont think NLC will do anything on there own. I dont think they have the industrial capacaty to RCA with ECT alone. And any way if they did it would take years to do more fesability studys and come to new agrements which would be bad for the share price.

So now the company has to realy on its oprations in Australia which it mentoned last week and dangled another carott for share holders but did not say what they were talking about.

Forget india now share holders if it hapens it hapens and your chances are 50 50. It is a roll of the dice and it was not fair for a director to say that the RCA was not a roll of the dice now. That was in my oppinion negligent to say. They have threatened to walk away now so they see a chance of the dice falling badly so it is a roll of the dice again. I always say dont beleve evry thing you read. Now you now why. A ,ot of arragence has directed this company and its anoncments so if you have any chance at surviving as a small investor you best start thinking out side of the anoncment box. Or the main share holders and directors and managment will do what I think the have always done. That was only my oppinion but i think it is as valid as any ones.

This company rely needs to come up with a massive sale or plant building contract in Australia or else it is dead in my oppinon.

Good luck.