Ann: Consolidation/Split - AHZ, page-79

Little harsh mate, my only grievance is that WP way over promised and then under delivered, (this despite his ‘industry’ experience) rather than move forward with a more conservative strategy, is the SAVR/TAVR his ‘personal vanity project?’, in the interim I think it all goes back to the failure to sell this story to SIO and SB at the 30 cent CR.

20 % buy ins (by both entities) at 30 cents by SIO and SB would have seen this company in what position?, arguably it may throw a lot of light on the ‘worth’ of this story at that time, Ratty a scapegoat?, SIO/SB placed all their due diligence on Rattys sell out!, think all three parties may have had the realization that the ‘story’ was most definitely not worth the 30 cents per share!

Minderoo and Ratty exiting the building should have been red flags ‘despite’ the ‘plausible’ reasons given for their departure, I would have been very pleased to see Minderoo, in particular, have remained a top five holder.

That some may be assured that things are well, via conversations with management, is negated by the failure of the company to put that in writing; via a sp sensitive announcement, at this very critical time.

This companies true worth should come via a take over bid by a major player, in my view SIO, in particular, are happy for this company to ‘muddle’ along, thru sheer attrition this company can further acquire major holdings via future CRs at reduced prices; eg ... no significant deal, No listing in the States may see a further CR here at home at a level well below $8.


All the above just my opinion, more than happy to be ‘shot down’ and reconsider my beliefs!