hubris, page-3

Koko, you seem surprised by the developments. This was completely and utterly predictable. This Company has been for some years now been about mining shareholders, nothing else. The pumpers are long gone as it is now truly too embarrassing to defend the incumbent management. Where is the visionary "The Dhon", the ultimate defender "bitzer" and a raft of others that have been trying to pull the wool over investor's eyes.
This Company is now insolvent and this CR is taking plundering to the next stage. The money will be used, like you pointed out KOKO, for the retirement of JT. He needs at least a year's salary when he goes for the splendid job of running the Company (into the ground).
The shortfall of the Rights Issue will be taken up by the next control person (enter Mr. Farrell and Young Towner). They will then reconstruct and do another placement and life goes on.
Pase is loosing money with the current production and talking to people in the know the Pase PSC will go out to bid in July/Aug.