here we go

Well hello to all holders out there. I go away for the long weekend only to come back and find we have a rights issue. Certainly not what I expected, nonetheless not a bad result. It will be at a 4:1 dilution for existing holders. That could have been a lot worse e.g 2:1. I am happy to take up the offer for a number of reasons
1 I believe JA when he says he is getting the job done, he has not proved otherwise.
2 I know we are sitting on a very valuable resource and imho it will increase dramatically in size.
3 They will have cashflow from sale of low grade i/o and mining equipment pieces.
4 Imho a jv will be announced sooner than later maybe two jv's.
5 The whole market has come off 115 points in 2 days yet ady is still holding 1.7 despite this and the rights issue.
6 Mike Clarke a very valuable member of the team is still on board yet relinquished his role as a director imho for a possible conflict of interest.
All in all, achance to pick up more shares cheap imho.
Happy sailing
PGamble