Ann: Chairmans Address June 09 , page-4

It is frankly astounding.

So they are buying a "strategic" stake in a coal company - for US$17M...

Hmmm

Using about US$10M owed to CVI from Fortitude to pass on the debt is laughable - if it wasn't for the fact that it is investors money.

They are continuing to play the shell game - however they have already palmed the ball!

If this was a real company, they would be looking to recover the debt as cash - they have no debt and it would make the current share price look silly if they had US$10M (AU$12.5M) in the bank.

So the plan is to "place" share at 1.25 cents? Wow - it's still being worked and the "real" depth is being depleted - their previous "sophisticated investors" have not sold out all their shareholdings yet - how would they sell another 200 million shares?

I know - release some spurious news that looks incredibly positive but cannot be confirmed.

Wait for the news to come out that "diamonds are being delivered" and that "coal is on its way to the port".

Surely it is time for the operators of this boiler room to move on?