wheres the half yearly accounts ?, page-125

Good post Bleasby and well worth the TU's.

As I have said before and being a bean counter myself, I can't see any reasons as to why an Auditor would stall indefinitely to release his report, when he has the choice available to him/her to qualify his reports/findings. You can say what you like about them covering their backsides, and in some cases it might be true, but, in the end, they have a task to perform. And that is to either agree in full with what has been presented in front of them or qualify it. IT IS SIMPLE AS THAT!!! PERIOD!!!

The following part of yours which has been copied and pasted below, makes a good mention of that.

""I have had some experience with Auditors and they are a breed of their own. Spend most of their time telling you what they are not doing and thus what they are not responsible for. They cover their backsides by being ultra conservative "and I would guess that the audit opinion was heavily qualified". I doubt the delay is with the auditors. Possibly PLV is waiting to discharge the Irvine mortgage in order that the audit opinion might be toned down by the auditors or over-ridden by subsequent developments.""

With that, you are in agreeance with me that it is not just the Auditors faults in delaying the issue and that there could be more than where eyes can actually meet. If that was correct (What you wrote that is), than it could well mean that we haven't been told the full story of it all.

What concerns me though, is one thing that was never discussed in any of these threads prior to this, nor did I try myself to bringing it up for fear that someone could have taken it in the wrong way, which in your opinion has been now clarified. The cash issue.

Was the Company with all of the problems that we've encountered with our Chinese JV partners in the past, ever traded while being insolvent.??

I say it again, and that is that I am glad that in one way or another you help alleviate that concern that was bothering me quite a lot.

The Chinese, IMO weren't the best partners that we could have found at the time, but it appears that we had no other choices at the time either. They screwed us no end.
Let's hope that this new lot is better and more reliable than the others and that they won't ask for our liver and kidneys in return for helping us out.

I am still of the belief that the company should be more open to us, and that they are not doing much to improve the Shareholder Relation issue. We might have been spoiled in the past when TS was here ready and willing to help us and being open with us as much as possible within his limitations, but that IMO is irrelevant and inexcusable that a company can force such a turnaround in such a quick time and while totally unexpected. After all it is our money that they are playing with.

One good thing about it all though. And that is that, according to what we have been told, we are still mining and shipping ore. That will bring some much wanted cash in our coffers.

Good post and thanks once again.