over the next couple of months..., page-8

neo - looks like your info from Dec chat with Conti was on the money.

Here is the latest from (a very diligent & responsive) JB, via iPad, no less:

"We continue to look at ways to maximize share performance and whilst we can control operational performance there are limited opportunities to "control" share price performance. At the moment we are clearly a "day traders" and professional traders delight with a significant amount of shares churned on a daily basis. It's incredible to see that we now have per 10,000 shareholders.

The sheer number of shares on issue is clearly impacting share price performance with so many traders happy to make money at each incremental 0.1c rises.

It is unfortunately also a fact that many institutions both here and overseas shy away from penny dreadfuls and if we are to attract such institutions we need to get an appropriate share price.

So what is the solution. In the immediate short term there is no desire by the company to consolidate the shares. We need to have a demonstrable track record both in terms of production and project execution before we even consider it properly. That means continuing to operate Vlak and Ferreira optimally and to bring Penumbra in on schedule and within budget. If we can demonstrate that the share price should ultimately reflect the underlying value of the company.

The main solution i personally see is for us to continue to focus on institutionalizing the share register. That way in my mind it doesn't matter how many shares are on issue as long as they are held by long term holders. This is clearly my focus and will continue to be so over 2011.

As we have so many shares on issue the questions on consolidation will continue to come until such time as we are trading at values well in excess of 25c. Pete's comments at the AGM were as he said his own view, my views are slightly different, that is the strength of any board - it is how we then work towards a solution. Don is very much focussed on value appreciation through operational and financial performance.

So the answer to the question. Not in the short term/next 6 months. To be continually assessed of course that is our duty as directors to always look at ways of enhancing value. If we can get the institutional support and strength on the share register without it then no need. If we get the share price recognition that operational performance and underlying asset value suggest we have then again no need.

Just my thoughts

Again hope it assist"