general discussion, page-19

In reality, this company must be an embarrassment for its management team. The SP is down a further 2% today and there have been no reassuring announcements for some time. I personally placed considerable store in the track record and public profile of management. Unless there has been an announcement to the contrary, TIP is now trading at just over one third of its book value. This seems to be quite a disconnect with reality and I consider that a public announcement to the ASX is essential to maintain the full disclosure obligations of TIP as a publicly listed company. We are drifting in a sea of nothingness. We are either where we are placed today with a SP of $1.22 and a MC around $33m or at a book value around $3.20 and a MC around $86m. There is quite a void between those numbers which must urgently be filled by the disclosure obligations of management. Silence is not an option.