Ann: $125M Recapitalisation to fund Baralaba Expansion Project, page-30

Wow did I see someone say they were going to put in, What The......

This is not crystal ball stuff folks -

Investment decision, do I want to put 125 million into a company that already is carrying 60-70 million in debt to its majors, taking the total price to about $200 million, so that I can lets say put in $50 million and instantly the same day, put it on my books at a 66% write down as this will now trade at about 75 million however folks, that is 0.001 cent, there are not enough decimal points on the ASX for it to drop lower.

However don't worry, your esteemed management and board don't actually think any tool is going to back this, so what will happen is when the book build fails they will launch on the ASX a EGM stating that it is critical that the shareholders vote yes for each of the three funds to take more than 19.9% so that the Company can survive. In actual fact they will get collectively to about 90 or 95%.

However dont think you little buggers are going to flee the seen, you see they have remained in suspension so you cant run, then the book build fails and they announce the EGM, however sorry folks, they also continue the suspension to trade as their funding and options are still incomplete and there is significant risk to the Company by having uninformed shareholders.

Then they are going to march you all the way to the EGM in a suspension where you have no choice but to yes, as if you vote no, their that will be administration so you are screwed and there is no option.

From there you feel all warm and fuzzy however the price will tank, and under the 3% creep provisions they will pick up the massive dump the afternoon after the EGM. Following that, they will compulsory acquire the company on market and realist on Singapore or take it private.

Have you got any power, other than a 249D with more than 5% of punters you have no hope, even then you dont have the votes but it might be enough noise for ASIC, Takeovers and ASX to actually do something.

What if you can make a difference, well not sure what the directors have in personal assets or the executive but I would be taking a long hard look, however after being in suspension for so long, most people might have their affairs in order, the dog and cat own the cars, the maid had the house and that foxy little EA has a stash of the bosses money too........

But no matter what you do, none for you.......... Name and shame the board, and the Executive management, write letters to ministers, papers and professional bodies, none of these clowns should be allowed to control a public company ever again