Ann: Asian Minerals Resources to Acquire Kasbah Resources-KAS.AX, page-33

OK.

After a few Marlboros, some choice profanity and some aggressive striking of my key board...my head is clear! I was going to push the sell button today but didn't.

Yes, this is the crapiest of crappy deals. Yes, our over-remunerated management have had sold out us small shareholders. If they have any decency, they should what 'underdone' asks for in his email (very eloquently I add) and give shareholders a proper justification of this deal and how it stacks up against what they've told us in the past. I'm not holding my breath though. They are truly poor management, but then again, so is most management in the Australian micro-resources space, in my experience. Out of all the permutations I had figured out, this was not one. And my heart sank when I logged in and saw the number 47 in RED (I was expecting that number but in green)!

Now, the optimist in me makes two points.

First, The price is now below the offer price, so either there's lots of people acting on their first impulse (disgust) or people think this deal is not going to go ahead (unless there's a competing bid - unlikely - I think it will given its got major S/H and board support). I think the price should stabilise somewhere closer to the bid price.

Second, I think what we might be getting in this deal is better management and the backing of an expert resource developer and financier in PALA: perhaps the view of our major shareholders was, 'put the grown ups in charge now', and then they might be more comfortable doing a deal. Secondly, I think this model will be a better platform for gaining international exposure and access to international finance markets; I was always doubtful that KAS management could do this alone and it will be essential to produce a operating mine, whether we like it or not.

Yes, we will have the living daylights diluted out of us and PALA's interest in this transaction will be PALA, but without an operating mine, there's no game here. Also, PALA are an astute bunch of operators and there's a good international skill set there (which, I accept they will use to their profitable advantage not ours); they got involved in a name I was in some time ago, they didn't make it better for shareholders but they didn't make it worse either.

One of the annoying things for me is that I hate cross-listed structures. Too complicated.

So, I'm reserving judgement for the time being. Wait and see and hopefully some light is shone on this. In the meantime, I fully back those who want to give management an earful - go for it and I might do the same.

Also, I was poised to sell out my shares in frustration and disgust at about 1.5c some months ago, so if I want to be very very optimistic, I've made 50% with the price at 3c!! But that's silly.

Interested in any views, this is always a great thread. Our day may yet come (but I'm still close to hitting sell!).