is anyone still holding, concerned??, page-10

Ta for reminding me ........just faxed my vote ..... 4 yeas and 1 nay for Res 5 with accompanying note ....
Doubt that it will have any effect but at least food for thought. Suggest anyone in here attending may copy below note and raise the issues at the meeting for their comment.
So easy to spend but so hard to raise cash in these times, so u wanna hold onto what u have cos it may mean diff between survival and otherwise.
IMBOOC

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Attention the Board of NuPower

I for one have been a keen supporter of our Company and its objectives with on-market purchases and options conversions at much higher prices with current holdings totalling about 500,000 shares.

And as it is my calculated opinion supporting Warwick Grigor's call we are heading for a global U-boom within the next 2 - 4 years based likely supply deficiencies ahead of BHP's proposed Olympic Dam expansion circa 2103+ (?), which together with (my) likely AUD currency devaluation concurrent, will IMO see Uranium spot price reach AUD 300+ / lb in that time, am accordingly accumulating significant positions in primarily NT focused U-companies which like NUP, will IMO be the prime beneficiaries of such price evolution in a new "third primary" upwave ahead (EW theory).

With such in mind I would favour patience and preservation of capital without diluting existing shareholder base unless absolutely necessary, as we are likely to have opportunity to raise cash as needed at higher than current prices following such an evolution path if we adopt a conservative path in the mid term.

There is enough cash in the kitty now to ride out the market doldrums of the next 1 - 2 years whilst still prioritising exploration at a reduced cash burn or per free-carry JV to ensure our control of assets meanwhile. And along the way we may find opportunity with our relatively favourable cash position in acquiring others' assets at cents in the dollar in preference to our speculative exploration cash-burn.

Furthermore, any significant share placements at these lower prices especially if not offered to shareholders first per pro rata entiltlement, may be construed by some as favouring new rather than existing shareholders.

I think we should be battening down the hatches over the next 12 months as the current global credit storm reaches some crescendo and Uranium price begins to show some signs of new life. Holding onto assets without share capital dilution should be the Board's priority in my humble opinion of 42 years' investment / trading the mining sector.

Some voluntary salary package cuts in line with such proposed temporary scaled-down activity and cash preservation during the current and deepening asset deflationary phase would also be seen by shareholders as heroic and in their best interests.

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