a summary of our grievances, page-5

Hi Leockl

Thanks for all your valuable input under the various threads.

" I am sure behind their minds, they would love for this initial T/O to be rejected. They just cant voice it out because of the terms of the T/O offer."

I suspect you're right, given their 'skin in the game', but their passivity in not rejecting the bid as low and opportunistic irks me greatly. It almost seems as if becoming a 100,000 oz producer (with a lucrative little sideline in manganese) was never their real objective. And if it wasn't, they sure did a damn good job of persuading all of us that it was.

I am not the slightest bit hostile to a takeover. Like everybody else though, I want it to be fair. I've seen many times how these things play out and I'm well aware that a second, improved offer might be forthcoming, but management could have begun the negotiations at a much higher level and raised the profile of the company had they rejected the offer outright as 'not reflecting the Ev/oz of comparable companies on the ASX, most of which are not even in production and many of which have smaller JORC-approved resource bases.'

No, we are being served up a manure sandwich and asked to exclaim 'delicious!' because it's got some salad dressing on it (the pathetic "premium" touted in the bid). The sandwich stinks and we don't have to eat it.

DYOR

Gupper