Ann: NSL secures $10 million to expand production of wet plant, page-62

I have to admit that after reading this Ann my finger was hovering over the sell button. The first reason is because, in my opinion, we could be in for a near term hammering. I remember the last time Magna got paid out in shares - they flooded the market with them. Cedric thanked us for our ongoing support but he hasn't done us any favours by reaching this deal with Magna. If possible, a cash pay out would have been much preferable. And how was this loan oversight missed in the first place?

Secondly, as many have said, how many capitol raises for phase three do we need. Will this be the last one? And where has all the cash from previous raisings gone? Will phase three be gold plated?

And then there's the consolidation.

One last gripe I have, why wasn't at least a portion of this CR offered to we shareholders. Surely we deserve to have at least been given the option to take part in this? Sorry Cedric but your thanks are falling on my deaf ears. I no longer believe you have the shareholders interests at heart.

So, since I haven't hit the sell button, I'll be taking a close look at who I'll be voting for re-election at the next AGM. If there isn't a massive turn around in the quality of reporting and positive content, for what it's worth, you've lost my Cedric. I'm peeved that you've thrown Magna at us again!