Ann: Extension of Security Purchase Plan, page-93

Well BBill 24bn SOI is quite a bit of confetti, but then you've got the 5.9bn options, and then CLZ have significant debt as well (which they are servicing by regularly issuing even more shares ad infinitum).
Kat Gap has been giving up a lot of very nice intersections at some very good grades, and the Gekko will maybe eventually (they are talking next year now, it was said to be this year previously).
A lot of the dilution that is happening is paying managements wages and they (and D Goodwin in particular) are chronic under performers.
I now realize that with the amount of SOI + debt it is really a millstone around the proverbial neck, Kat Gap would have some real potential if there were say 2bn SOI, but a Gekko will take decades to process the gold at Kat Gap, by that time you could have 100bn to 500bn SOI.
Kat Gap would look like a decent asset in the hands of a company with good management and a register to match, but IMO it won't be going anywhere as long as things stand as they are; really it has been said before, another miner will likely come in and take it over. Either that or they go broke because investors mostly won't continue to back existing management on current performance.
A takeover will not afford much return, so I have decided to sell before that happens, I don't feel bitter at all, this was only a very small punt for me, and I am glad that's all it was, but good luck to those of you who continue to hold in the hope of .002c - you will definitely need very good luck.