Yeah ... well I'm just angry in a sense but buy & sell decisions...

Yeah ... well I'm just angry in a sense but buy & sell decisions must at the end of the day be based on not only the prospects of any play but also the prospects of alternatives. Al least for us small holders.

So why did managment lose condfidence in their own play .... was it to shake out the retailers like me?? The answer is probably not. The answer is probably the Board were flying blind at the time, completely oblivious to the systemic errors in the core samples an to actual risk.

Anyway, the offer represents a partial recovery for those who held on and for the instos. But why do the directors again seem to have no confidence in the financial sustainability of their own play when the Singaporeans obviously do. This is truly wierd. You don't sell out everything, including a cash positive play so that other plays can be developed .... do you? Me thinks the Instos may have something to say shortly.

Throw away lines you read here about Vic gold are a nonsense. It all comes down to pod (jewellery box) frequency and size and I expect that the equation remains cash positive for Ballarat at least. All that is required is POG to remain above maybe $1200/oz and it remains a cash cow (if managed carefully) IMHO.

Other thoughts?