Ann: VEN: Operations update, page-10

I wasn't that impressed and had I not stuck my head in here with a cost of around 2c average I would not invest.

I should learn my lessons - sometimes its just the company. There are companies that will never pay a dividend because management like keeping your money. This company has stung me before in the bad old days and I didn't learn my lesson.

I personally think VEN wont at this time buy out MEL as these issues with water suggest that you cannot actually value what you have until you have sorted the problem. If the problem is sorted then it may do the logical thing and stop the duplication of management with no shareholder benefit.

However if they don't solve the problems and ramp up the income then this could end up as a dog. In my opinion the overheads are far too high for the income now and even in the future this isnt going to probably pay back its shareholders what has been spent by the company over the years. Often people don't look at balance sheets - I do and to date there is $110Million lost by this company. Not all of it was on this project I assume but that is the score. People will tell you that this is speculative and if you cannot take the pain dont invest here. Well often I wonder with all these exploration companies whether it isnt a better bet to play roulette. We aspire for 10 baggers but there I can get 31times.

There are players here who constantly beat the odds but I am not sure they ride the full wave or whether they just take the momentum and get off avoiding Greed - my unfortunate trait.