albidon lies

ALBIDON TO RESTRUCTURE FOLLOWING STRATEGIC REVIEW
The above document was released by Albidon to ASX on October 3rd 2011. To quote:
'Restructure and recapitalisation planned to be completed by 31 December 2011.' this is a LIE
'The Board has engaged Patersons Securities (“Patersons”) ...for the purpose of
determining the optimum strategy for raising new equity capital. In particular, Patersons ...have been instructed to seek new strategic and institutional investors' this is a LIE, one of Patersons' top guys told us that they had not been asked by Albidon to do anything
'Recruit new independent directors.' this is a LIE
'Recruit new senior management with international mining experience for Perth head office and Munali operations.' this is a LIE

This company has repeatedly lied to shareholders since Jinchuan hijacked it after the previous suspension & administration period. The strategic review has so far accomplished ZERO as far as we are aware. They refuse to respond to legitimate shareholder concerns & refuse to update the market as to the true picture.

Why is the useless & corrupt Sanlin Zhang still our Chairman? This is the puppet-master directly responsible for all Albidon's woes, he should have been sent packing by the review team as the number one priority if they were serious, & yet he remains.

Albidon has now been in self-enforced suspension from ASX for nearly six months, yet they do not think it worthwhile to update investors. Only one shareholder knows what is really going on & that is Jinchuan, though maybe ZCCM-IH have some clue as they are working for the Zambian government. Whatever the reality, it seems that the interests of minority shareholders are very low on the Albidon list of priorities. It is about time that our execrable board act as the board of a public listed company on ASX should - either work for shareholders & update us as to progress, or RESIGN.

The above image is taken from the Albidon recent quarterly. Albidon hide behind spin doctor Alan Jury & put his name on all their ASX releases so why does Alan refuse to respond to our legitimate queries?

We would like to know if the investor mentioned by Albidon as being in due diligence back in December remains the only interested party - they will not reply.

We would like assurances that Albidon will secure the best possible deal for ALL shareholders & not just Jinchuan - they will not reply.

We would like to know if Zambian government is working with ZCCM-IH on an alternative plan for Munali should Albidon fail in their pursuit of new investment in the short term - they will not reply.

We would like to know if they have provided Zambian government with requested assurances - they will not reply.

We would like to know if Zambian government has given Albidon until the end of February - they will not reply.

Does our board & management work for the shareholders of Albidon, or do they in fact work for our sole customer Jinchuan? Let us not forget that it is the paranoid meddling of Jinchuan, who hijacked our mine & ran it directly in disastrous & corrupt fashion, that sees us in this mess.