Ann: Director Not Seeking Re-Election , page-2

just another part of the soap opera.

the company was listed on 2 dec 2010, and in that time, all of the ipo funds have been spent, as have subsequent capital raisings.

terrence j, in a post, mentions the following..

"Raunchy man Steve "sit on my lap and dance" Zelinski".

in a recent (nov 2 ) company announcement , the name "malcolm day" is mentioned

"birds of a feather" come to mind.

in a very early post, watso mentioned something about a "gold mine" in a caravan.

anyway, it has all been mined out (for a public company). there has been plenty of drilling in the stage one drilling program, to be able to calculate a resource, for that area. shareholders would have loved to have known if there was x tonnes at y grams/ton, in that little area, then they could have had a guess, at what the rest would be like.

anyway, within one year of listing, the shares are suspended, the money has gone, some shareholders are upset, and the share price has fallen 70% .

ahhh - here is a nice little read

"www.paynesfindgold.com/TheWeekendAustralian1617thOctober2010.pdf

lol - it seems that for decades , mining company bosses have been traveling to paynes find, trying to get the taylors to sell the "lucrative gold mining tenements", but in the end, it seems that it was "salters long association with the taylor family" which helped him to persuade the taylors, to sell the ground.

wow - this long association, seems to result in "upset relations"

paynes find, is on the way to mt magnet, meekatharra etc . watso has driven through paynes find, one hundred times, with heaps of geologists, and none have expressed any interest in paynes find (but it was a good fuel stop and that is where the money is), a couple of second rate companies, have had a look, in the past, and have walked away.

in a distant post, watso has mentioned that the taylors got a fair price for the tenements, but at the end of the day, they will regain control of the tenements.

the promoters got too many freebie shares.

there needs to be a capital raising - will it be at 3c per share????