Ann: Garema Gold Project, NSW-AGS.AX, page-21

FO

My last post wasn't well written either.

If you take everything in context, one thing led to another.
The commencement of court action through to the Stockpiling. In the end the consideration to stockpile? did not do AGS any favours because of AGS's Cash position.


Whatever the motive, the position AGS was placed in by the failure of the Legal Action was the main contributing factor to the end result. Who do I blame for that? On face value I blame AGS's Management and all the contributing advice, which didn't come cheaply, a major consideration to the vulnerable position AGS ended up in.

FO. Everything was looking good for me too with the startup to Production Announcement, until the Litigation Announcement. The "we'll always have the 25%" stated, continually by Management at Presentations, swayed me to hold my Shares.

Anyway, AGS's Management from day1 put themselves in a position where they had no control in the J/V. They signed on the dotted line. As I said one thing led to another from that point.

Would things have been different if we had a different J/V Partner.?
We'll never know.

I.G. and the Directors may have done what was in the best interest of the AGS's shareholders but how do we know!

Was it worth it in the end ?. Again I/we will never know.

Well the Blue Bros are the Blue brothers and were known to be difficult long before AGS's J/V came into being.

Lets put it down to bad luck for the Directors and the Shareholders of AGS.

FO you like most of us sat through the years of turmoil and for that reason and that reason only, knowing you still have a large holding as do others, I hope success comes your way with the AGS Company.

Not so much for the Directors but Shareholders .

I've been chipped about my aggressive posting style and the imo's I put at the end of lines by the Moderators.
Its the way I am and I do not intend any alarm to anyone.

In closing I suggest AGS and the J/V outcome was a major disaster for everyone.
The proportion of blame to each Party (Blue Bros, AGS Directors) will bug me forever. Its the 'not knowing'.!

I no longer hold so I must refrain from posting.

Good luck All
Md