scrip offer for bonaparte diamond mines, page-108

This whole story is a bucket of hillarity. You couldn't make this kind of story up!

What's more, the official line makes about as much sense as a cat in trousers. Let's see, what do the two companies have in common?

1. A strong desire to mine phosphate.
2. Three directors.
3. They need capital.

Hmmm. They both want to mine phosphate, but one of them wants to do it UNDERWATER AND OFF THE COAST OF ANOTHER CONTINENT. So that doesn't help. They both need capital, so there's no help there. But they share directors, so they might be able to cut directors' fees. Will the only possible synergy actually happen? Stay tuned.

The strategy seems to be one of 'pooling their deficiencies'.

When you're bagging a stock for its obvious woes it seems to be obligatory to say 'Good luck to all holders'. So I'd better say: good luck to all holders.