2c dividend, page-7

Canadian Bunny,

I am aware of the director's history with Adelong. However, over the last couple of years with this particular company, there has been real focus on the business plan, and it has been executed to perfection in relatively difficult times. I think management is very important, as you rightly suggest, there may be some stigma because of a particular director's past, but you can't continue to ignore excellent results, eventually something has to give.

The company is tightly held by the Top 20 and directors, so I think maybe the lack of price action might have alot also to do with low liquidity as anything else.

I still don't see why the options should be trading at such a discount to the main shares. At this point in time you are much better off buying options and exercising them because as of closing MD, you can get the shares at a 9.3% discount to the current shareprice (11c+ 32c=43c compared to last sale of 47c), to me that's a phenominal difference. Needless to say, I have quite a few MPHOB and I see no risk as it is well in the money, and I can exercise them whenever I like.

Cheers