Ann: Palm Springs Maiden Resource, page-42

A general comment relating to the mining sector of which this company belongs

I am of the opinion that the resource sector in general over the last few years attracted many with an eye to the dollar.

Package the goodies, raise a bucket load of cash and get paid hefty fees, consultancy advice etc.

It attracted many brokers (making massive fees and low priced placements with "sophisticated" investors) entrepreneurs with connections to mates loose change, retail investors getting tangled in the movie, public relations organizations putting together the spin and so the list of benefiting hangers is endless

There will be a severe fall out over this calendar year with many investors running for the exit doors.

Holes are appearing in many of these mining micro caps and the patch ups are far from convincing. Many are running out of fingers to plug the holes.

Will MEI survive, I have not idea - but more money via a CR will not solve their issues.

There is only so long you can poor money into a bottomless pit with massive dilution to the huge number of retail investors - and not delivery.

Still no one is forced to invest in any ASX company - it is the investors choice.

That being the case, you accept the consequences good or bad.

IMO