alternative proposal- 48c raising?, page-6

Agree 48c is too cheap to sell equity to an outsider, but if this deal was something like offering to underwrite a right issue say, 2 or 3 at 48c thats another story.

As long as thats all it was, no snouts in troughs, (placements at the same price to instos/investors, just a rights issue and MS got a fee and was able to pick up those rights not taken up, then I reckon that would be better than the MM deal, but I think we could still raise the required amount at 70c, without underwriting.

Have we had some disagreements at CEO-board level, seems AM didnt want to look at any other offer, but Bruce Loveday doesnt seems that certain.

AM should have stood down once he was offered the position with MM, not 2 weeks out from the vote, I think I know why he wanted to be around, it would be interesting to know if he volunteered to step aside or was asked by the board.

Will he still make an appearence at the AGM?


cheers grant

the above is opinion only and written without prejudice