cash 2x market cap, page-30

I reckon the Board could get rolled if things dont improve by end 2013.
Too much cash still there to watch it gently wither on the vine over the next couple of years.

On the face of it, the Board"s strategy is reasonable, but all the time the shares trade at a discount to cash, investors are entitled to question why they didn"t just return the cash to shareholders when there was an easy 25c of value.

I bought my shares for a minimum of 20c to be returned, and hopefully much more if the strategy works. The only unacceptable result for me is to watch the cash slowly disappear with nothing to show for it or any opportunity to exit.

I now also own more shares than the entire board. Admittedly, they were bought at much lower levels, but it's still disconcerting not to see the Board step up to the plate too.

Hopefully, this is just the ebbs and flows of trading before management start to deliver on value creation for shareholders.