whats does announcement mean for share holders, page-3

As Seuss pointed out, there are several positives:

->we retain 100% ownership of the tenements which were to be incorporated as a part of the placement/deal-
This includes Middlemount - a company-maker in its own right

-> Exploration of JV tenure will be funded by BSL (which was the original agreement anyway) and non-JV prospects will be funded by a loan

-> Most importantly, and critically, our stake in BWN remains UNDILUTED.

Negatives:

-> In three months the current board has accomplished what most boards could have achieved in 3 weeks

-> BSL is still in the drivers seat

-> They don't intend on seeing BWN or its shareholders progress before November - because if they did, they would have made this announcement sooner than 3 months past and would have appointed an MD with coal experience

-> They have downgraded the BWN share valuation from about 26c to about 8c. They have not explained how this has come about except to say that there was a miscalculation. The original figure was a load of BS and no one took it seriously - Do not be decieved. Any shareholder that has been in touch with the going ons of this company in the last 12 months would take this valuation with a grain of salt.

I believe they are getting desperate now. In my opinion this document confirms what we have been saying for months - It is a final attempt to suppress the shareprice and allow for BSL to opportunistically snap up BWN at a cheaper price

However, I now have renewed hope and enthusiasm for the future of Bowen

Thanks to the actions of a substantial shareholder at last year's AGM, our shares will not be diluted to nothing. Our assets remain our assets. And soon we will get a chance to stear this ship in the right direction - when the time is right, it's up to every single one of you to take part.

It is a very exciting time to be a Bowen shareholder - I think this would have been more appropriately posted in the thread titled, Action

One more 'negative':
Some shareholders may actually believe the revised valuation and decide to sell their shares on market

Postive:
More shares for me

Regards,
Tarecq