Ann: Entitlement Offer - Dispatch of Offer Documents, page-4

Only winners I can see here will be Collins St. Smartly played. They'll end up with a controlling stake at minimal cost & probably install an incentivized MD/CEO in time that actually has an understanding of capital management and the need for progress. For all the money they've raised and expended the last couple of years (3) I struggle to see what they've done and the share price decline from over 15c to below 1c today says it all. They have a mineral endowment but unless you have a management team to drive it forward this is what happens. Said it before but good management can often make an average project work, poor management will invariably destroy the worth of a good project. Nothing personal in the above judgement but history strongly suggests Rohner can't take the company forward. He's had enough capital behind him & a solid foundation resource to work with to build from yet here we are.