sale of unmarketable parcels, page-3

I don't believe the small shareholders are affecting or will affect SP performance at all. The issue is fundamental - there is no support for XCD in the market. Look at the buy side. Total buy orders worth $5,000?? There simply is no interest and with an order or two the market cap of XCD can easily be halved!! That is plainly absurd.

Board and management are incapable of generating sufficient interest, despite the notably good announcements, and we shareholders are the losers. The 20c subscribers to the coal venture are being wiped out. Shareholders of previous incarnations of XCD have already had their investments decimated. Seems the market gives them no credibility at all and the lack of independence on their recent mop-up initiative is probably why others are steering clear.

Why doesn't SG Fleming just buy XCD in the market rather than mop-up shares so cheaply. SG Fleming are in the business of making money. Fair enough but why do it at the expense of small shareholders?? This is why you need independence. Apart from being sound corporate governance there is at the very least the perception of a conflict of interest! I question if the XCD Board actually understands these issues?

Just to elaborate on that point, the Directors of XCD must act in the best interests of ALL shareholders. How can they do that when they also hold office with SG Fleming which is mopping up shares at cheap prices. If the mopped up shares subsequently do well the Directors of XCD, who know the future propects better than anybody else, do well through SG Fleming's good performance. If an independent group mopped up the shares, and I'm sure pleny of brokers would do it for a 5% fee, then there couldn't be any conflict of interest. Most investors don't like these activities and steer clear.

I recommend we get some new independent personell onto the Board to ensure sound corporate governance for our company.