QOL queensland ores limited

quite possible a bit nervous about the vote , page-10

  1. 622 Posts.
    Ok ,lets look at the situation with what we have in front of us .Firstly lets put it out front that we all went in this at 35 cents to get a processing plant & into production & even 7 mill in the bank .Now we are told that that wasnot enough & the company needs some more spending money till they get the concentrate delivered & paid for .......If you want to preserve your current level of equity there is really no choice , you have to go in it , they know that .But to pay 18-20 cents on market to get the right to one -third of $5000 worth , is very poor ecomomics .If your not an existing shareholder then to get an allocation , you are going to loose 6 cents times 3 , to buy the 12 cent shares.This whole aspect was not poorly thought out - by BBY i would have quessed .I think the only thing existing shareholders can do is subscribe for the one-third of $5000 worth & certainly don't buy anything abouve 12 cents on market to get any rights to another allocation ......Really i know it's blasphemy to suggest it , but whos to say they wont be 12 cents after the issue .You've got some , you thought it was enough , but it isn't now .Hey , there are plenty of other companies out there .As I've said before , i don't hold the stock , but I might buy some if it trades 12 cents after the issue and if the way this has been handled is any indication , i think there is a good chance of that occuring.
 
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Currently unlisted public company.

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