Well, yes, i guess after a 'quick read' its obvious you have...

Well, yes, i guess after a 'quick read' its obvious you have formed a wrong opinion about me 'overlooking the most important condition in the whole announcement' which for the record i did not.

No, it seems that you have missed the points i was making that lead me to my opinion namely that Glencore were going to lose this case and the Pacific funding facility was never going to be drawn down in any event.

I have always stated that the funding facility was put in place to prove that there was no insolvency. Look back over my posts as verification of my opinion.

So to recap the outcome of the shenanigans,

Glencore: Vastly improved position due to 104m options being issued at 4 cents

Pacific: Up $2,000,000 so far. They just shnazzled 40m options at 1.25 cents (that's about 8% of the company for 600k)

Pybar: 10m options at 1.25 cents - not too shabby...up about 500k based on yesterday's price

Everyone else? diluted without the right to participate.


Now at this point, i should state that I am not a long suffering shareholder...I started buying at 5 and kept buying down into the two's...I also bought more yesterday sub 6, so really, I have no reason to be upset because I am in the black but it doesn't change the fact that the end result has proven to be a major benefit to Glencore, Pacific and Pybar at the expense of everyone else.


Having said all that, i still think their is upside, i'm in the black, and the points made here are purely academic.

Good luck everyone...be sure to let me know when another drama erupts somewhere else!