Senator contacted the company yesterday to ask why the delay and...

Senator contacted the company yesterday to ask why the delay and was brushed off like a pesty fly on a hot summers day. Spoke with Neil Hutchison whom was standoffish towards me and felt like I had no right to be ringing the company with my concerns, he advised that the company is now at the mercy of the world's financial markets and that finance is far from a sure thing. He basically said there will be no capital growth for at least 6 months!

I asked why is David Singleton putting out flowery videos on their website and he (again standoffishly)advised that he doesn't listen to any of the videos. I advised him to pass onto Mr Singleton to only present an accurate picture of the company and to not put out information in the public domain which is not that. He said that he will look at it and if there was anything untoward he will discuss with David.

Mr Hutchison advised that they would start to do a approx 6000 mtr drilling campaign and that some under ground drilling will be included. This is the only news which will be forthcoming soon from what I gathered and that the other news pending will be released in due course.

This conversation reiterated to me that this company and the management team Mr Forrest assembled back in 2007 is in no rush to move this project forward. They are happy now that they have enough money after the rights issue to roll on at a snails pace receiving their shares along the way and that if Mr Forrest changes his mind in anyway that he doesn't want to continue to support it, then this company could be a penny dreadful for many years to come with no prospect of providing shareholders with any capital growth.

I feel for the many investors whom have paid up for their extra shares in the recent rights issue (I luckily didn't)as frankly I see very little upside to this story in the short to mid term, especially when we have one of the richest men in this country not wanting to back this venture with his own dollars but would rather make money out of his involvement in the rights issue and make money elsewhere sureing up his retirement(as Mr Hutchison put it).