a few thoughts, page-3

Nice pictures in the ann. Lovely farms surrounding. Not much comfort in the retracting share price for the shareholders. Should be getting ripe for a takeover at this price, can it go lower!!!!!! Seems unusual for a so called world class asset to spiral down to this level.

Are there any big miners showing any interest or has the sovereign risk and lower gold price deterred them? Would be nice if management could give further updates in any parties that have shown or lost interest to give shareholders some knowledge in proceedings and reason for the downgrade in shareprice, given that IAU are not interested in doing the mining themselves. There is always a reasonable possibility that iau could sell the asset to raise capital and move on to other pastures giving shareholders nothing out of the resource as they have done this in the past with Paulsens, Intrepid sold the mine to Northern Star Resources in July 2010 for A$40 million although the mine was winding down at the time.

Naturally, the shareprice went up on this advice:
"Director said they have received numerous calls to discuss sale eg BHP RIO Barrick and some one else .
Its a once in 200 year find thats a quote from the AGM"

They did add a statement way back in 2008 that the resource falls within a protected forest and there are risk attendant upon the reclassification process.

The market has spoken - the drop in shareprice must be more than underlying sovereign risk. Shorters; further shares on issue as options realised; no direct equity secured yet; the salaries oh the salaries.

Have they failed so far to secure direct equity for this 200 year find? Nobody interested!! Too risky to pinpoint any bidders right now, what then? Doesn't point to a bright future for the world economy.

I hope this shareprice picks up real soon, feel very sorry for shareholders who bought in on hype on the high hopes of a reward for their hard earned cash investment. It coulf take some time to recover from these lows and a good deal of patience needed imho.

Ironically, at least I get some comfort from my poor investment in seeing those nice little farms in the pictures in the ann, they are at rest for now.