the year ahead, page-15

I have no argument with the board, I think they are doing a very good job in difficult circumstances.

Yes they may be chasing bigger opportunities but TZ cannot year after year undertake cap raisings with further dilution to current shareholders. While I agree a number of large companies may be negative cash flow this is environmental in most cases - up to recent times they were all probably generating positive cash on strong sales.
I think the co. has already raised ~$70m, add another $10-20m and you have to ask where the end game is.
As I said, no issue with management, but for me personally I cannot keep looking for the end of the rainbow, especially as that will now be 2011/2012. I believe the ASX will post some good gains this year and I want to be able to make some of my losses back so need the cash from TZ! (when they relist??). Something that looked so promising has never delivered, that is the harsh reality.