Ann: Update on Voluntary Suspension , page-15

Hi Symbol

A valuation is only as good as your assumptions ;)

I didnt agree with teh valuations last year and only recently bought in. Brokers reports these days arent worth the paper their written on, neverthe less the valuation range for Boseto based on1X NAV (cant see how some analyst put 1.3 times NAV in this climate) is $0.50 - $0.85

So when looked at from that perspective im relative on the bullish sign.

The capital management now is the key. I know alot of people have enetered at various positions and have different strategies etc which is appreciate.

However the decsion between a potential takeover at say 0.75 vs a $50m raise at 0.25 is a no brainer. Apply some zero based thinking to it

imagine you have just bought the stock at 0.35 (becasue no matter what you paid for it taht swhat it is owrth today) would you accept $0.75/sh 100% return. OR would you want your sahre register to be diluted by 50% and teh price to decrease to $0.25/sh with the hope that 'management' can turn it around, world economic conditions improve, commodity prices stay steady etc etc and then hope that the stock can rally 200% to get the same outcome (actually in value terms it would have to rally 275% given the dilution)

sure it could be valued beyond that one day but the time and risk to get there is it worth it ?