Ann: Board Changes, page-12

I understand the potential of our assets, Bison.

Avior can't lose either way, though - so again - question marks on the extent to which they are fully incentivised.

If I sound cynical - it's for a good reason.

And until I see some material progress, I will reserve my right not to be carried away. Believing Barry & staunchly backing him in & defending him on these boards has left me in this position. He blindsided all of us.

One more thing. I wouldn't automatically assume this is the only Board change we will see moving forward.

Once the bond fell through, I never bought their BS that they were working on "alternative financing packages" for the Nifty restart. I had hoped that they would be able to at least manage an equity raise to shore up cash (after punting everything on the bond & running outta cash) - but all they could come up with in a month was a highly risky secured loan deed. Just enough to pay the interest on the con note & advisor fees. That tells you everything you need to know. And was my tipping point.

Management have had ample opportunities & only proven their incompetence. Time for fresh faces, a revised strategy & hope like hell that equity markets will reopen to them before what's left of that $6m runs out.