I sure as heck can retrac, its disgusting, 448k shares for...

I sure as heck can retrac, its disgusting, 448k shares for little over a year, geez I'm in the wrong game.

I have just penned the following enquiry in the Investor relations form, and got "Suspicious activity detected, Form submission blocked" but they can count on me contacting them in other ways tonight.

I write as a concerned long-term shareholder who has been on the ASX register since shortly after the initial Adriatic ASX IPO. As an investor of over 40 years I have been involved in many takeovers during this time, including multiple 'Scheme's of Arrangement'. My primary concern over the Dundee bid evolves from the lack of an independent valuation commissioned by the directors of Adriatic for its own shareholders, and the fiduciary obligation that directors have towards a company with regard to exercising care, skill and diligence in delivering the best outcome. A lack of an independent report commissioned by the acquiree for shareholders is something I have rarely seen in these situations in the past, and I question why this is the case.

Specifically I fail to see how due care and diligence can be achieved when the merger information supplied to shareholders under the Scheme (dated 13 June) and the Merger Scheme Booklet (15 July) relies upon a report commissioned by the acquiror (Dundee Precious Metals) and not a report commissioned by Adriatic directors. My primary concern evolves from the obfuscation of information relating to the sensitivity of valuations that could be attached to Adriatic under varying assumptions of the key Long-term metal prices, noting that the base case NPV of $1.6 B assumes a silver price of $27.69 oz vs (over $38 spot, and 1-4 year strip ~ $39-$42+) and a gold price of $2,212 oz vs (over $3,330 spot, 1-4 year strip ~ $3,480-$3,850+). Whilst acknowledging the other key assumptions and considerable volatility in the above key commodity prices (particularly silver) since the release of the report, I note that the 'sensitivity report' in Dundee's initial merger announcement only considered a maximum variation of +/-10% in the above commodity values and hence contend that many Adriatic shareholders, particularly smaller retail holders will lack the expertise to evaluate the material difference which higher silver/gold prices (over 37% on spot silver alone) would have on the Adriatic valuation. Given this situation it is the responsibility of directors to supplement shareholders with this vital information to make a fully informed decision before casting their vote in the upcoming Merger.