Ann: Acquisition of New Exploration Tenement at E, page-4

re: Ann: Acquisition of New Exploration Tenem... It will take more than one far flung graticular block in amongst very large tenement holdings by others to prove they are a proper exploration company. And how much will any new ground cost us. $15k for a very small isolated block (in terms of what AGU currently holds) is all its worth as it was only applied for about 6 weeks ago by Geological Resource Solutions. One wonders why Robert Jewson didn't put it into one of the 3 ASX companies he has recently become Director of if it was worth anything of value.

AGU (meaning regular shareholders) would be better served if management started applying for land themselves instead of buying it from others. $15k is a small enough amount to pay for this but any future purchases should be through mineral applications.

My cynical side says this type of action will eventually lead to large scale dilution through either vends or cheap cap raisings in an attempt to ward off others wanting to get control, similar to what YRR is doing.


Stick to Peak Hill j/v or merge with PDY. Don't start playing games again. And be careful who you put your trust in next time. Giving so much control to one person can be detrimental to all holders if they turn against you. Those partly paids are going to be a big burden to shareholders in the future imo.