Aspear, page-41

Hi Phil

with your comment you made on ARD (Argent Minerals), I think you said you did really well. I cant remember if you said you bought at 0.009 or 0.09. anyway both are good well done.

the only thing I wish to add though is that its not that difficult to pick a spec stock and have a good run for a while.

what is harder is to pick a small spec company that actually turns into a big well known company that makes profits continually, pays dividends etc

and what is even harder still, borderline impossible and is what I want us to achieve in maronan despite the challenges is to achieve all that but to have all of us early shareholders benefit from it.

there are many more ASX companies that become big and become profitable but those profits go to late stage investors who get placements at low prices just before the stock takes off

this is 100% why Im battling to stop the capital raising before the silver price takes off. From start to finish we want capital raised in ways that reward early shareholders

ive had wins and ive had losses on the ASX but ive never picked one that has gone all the way from start to finish benefiting early investors in the beginning in the middle and in the end. For this we most certainly need to have directors do their role. But we have to let them know we're watching and we have to give them our congratulations and our criticisms. Still some people dont know that once in Dalrymple Ltd, a Joshua Pitt company, Joshua and other directors went without director fees when the company was running low on cash. It went on to become Joshua's first mine and this simple but sacrificial action told shareholders that directors care enough about them and it attracted my dads loyalty and he was loyal to Joshua Pitt companies for the rest of his life

when I was writing articles for Michael West Media I wrote one called Arrium a fee fest for financiers a misery fest for shareholders. It can probably still be googled and read.

it shows what happens to a company once bad elements get onto a register. Bad elements then get into the board.

I do agree with you that in bull market its harder for manipulation but right now my bucket list mission is to own a company which is purely acting in the interests of shareholders and doesnt make even the tiniest of mistakes along the way.

the tiniest of mistakes early will make a huge difference in future market cap and share price.

with Veritas (that was the first mistake using them) they got between 6-10% of the register then sold us down and sabotaged options expiry in a completely unsophisticated way. Imagine a hedge fund getting on our register with sophisticated algorithmic trading programs setup to drop the price day by day, similar to what is seen in hundreds of ASX stocks. Imagine the same hedge fund hides his shareholdings in custodian accounts like HSBC or JP Morgan so we cant even see who they are. Imagine they lend their shares out to short sellers who bash down our stocks so that the hedge fund who lent them the shares can get a cheap capital raising. Imagine this same hedge fund has financial review journalists in his pockets ready to write a negative article about the company to justify the manipulation. And then they pay people on hot copper to bash us on the MMA thread.

its the difference between our share price staying at 30c for the next ten years or going to $10.

thats why I urge the directors to consider a wide range of capital raising options and most importantly

buying some maronan shares themselves on market!!!!!