any comments on announcements, page-51

I'm not a holder (very old holder) but i have been tempted to get in at recent prices. As a previously holder, support seemed to be around the 12c mark. From memory, there wasn't much support below 28c. I held VRE and the timing of everything seems identical. VRE promised so much this time last year. Touch and go would be the call by late jan, early feb. Management came out saying that all is fine with good reserves/grades, debt settled and all looking up for the company. It sucked in a lot of people who believed management announcements. Even Fat Prophets believed management and even up till late January were advising people to buy. Then 2 weeks after a very solid announcement, in came the receivers. I learnt a valuable lesson (once again). That is don't fall in love with the story, be very wary of announcements and what management say, the trend is your friend and best of all "THE MARKET IS ALWAYS RIGHT". With the benefit of hindsight, there was nothing stopping me from selling out when there was a sign of trouble and waiting to get back in at higher prices when things looked good. Instead I believed in the management (as did everyone else) and it only seemed like big trades to the sell side were going through and the sucker were picking it up. Be careful. There is no harm in getting back in when good news surfaces about the company. 50% of something is better than 100% of nothing.