PRH 0.00% 0.5¢ phillips river mining limited

Ann: Appendix 3B - Issue of Convertible Notes , page-13

  1. 29,310 Posts.
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    If he is so astute, why did he fail?
    He was handed a company with good assets, (gold and polymetallic), All metallurgical testing and Feasibility done,16 months back, signed an offtake agreement we shareholders have never seen the details of, but obviously with a finite delivery date in June 2013, which is what is destroying us, and took not one step since in trying to achieve that delivery.Blind Freddy could have seen that delivery was impossible. Our board and LN Metals must have realised that. Look back & you'll see that they did nothing. Not one report that there were problems. See, we holders knew nothing about a 2013 deadline, just that we had a market for our zinc. Then out of the blue he announces he's giving us to Les, lol.
    That IS pretty astute when one looks back to warnings 15 months back that the new board has been put in place to strip & divest the company away from shareholders. Go back & read the posts of those who warned. I didnt believe it could be done, or i wouldnt have invested half my life's savings in TTR. I believed in it. But it happened, eh, no explanations, just as predicted by those with better vision than I.
    So, of course Les will give (or at least offer) him a job with SLR in return for the tremendous gift to SLR. And a few million SLR shares to compensate for his loss in PRH. Remember, directors are shareholders too, eh.
    There's my views, SBL. And many others share them.
    I should have listened to Bargold & Billmac & got out.
    But who believed, in today's age of ASX & ASIC supervision, that something like this could happen?
    Well, it hasnt actually happened yet....the fat lady is on holidays.

    cheers
    GZ
 
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