re: Ann: ARD: Kempfield Resources Increased b... I question...

re: Ann: ARD: Kempfield Resources Increased b... I question whether the real intention of MANAGEMENT is to make an attractive offer in any case. It seems to me that MANAGEMENT is rather controlled by the Chinese Investor and MANAGEMENT no longer represent a significant block of shareholders in any case.

So I am inclined to be sceptical and suggest that strategically the rights offer is primarily there to raise some cash and to increase the Chinese Investor's proportionate ownership in GCR from those who do not take up the rights.

I think Management and the Chinese Investor both know that many will sell shares to pay for the rights with attaching options and anything they say that is positive now helps reduce the downward pressure that results from selling on market to take up rights.

This is not all doom and gloom though if MANAGEMENT were to do the right thing and REPRESENT THE INTERESTS OF ALL SHAREHOLDERS which is what they are supposed to do. So SHAREHOLDERS, it is up to you to place pressure on the MANAGEMENT to ensure your interests are represented.

You dont want to see for instance that MANAGEMENT does a joint venture deal on your behalf with the Chinese investor and their financial supporters so as to finance the Copper Hill Project that has the effect of further significantly diluting GCR shareholder's value in the Copper Hill Project.

Does MANAGEMENT really care, given that they hold so few shares. Sadly, I would suggest that their salary is probably more important to them.

I think that SHAREHOLDERS would like to see the Chinese Investor commence to promote GCR and push the share price up based upon underlying commodity values and for the simple fact they the Chinese Investor will soon own more shares in GCR post rights.

A decision to take up the rights offer is therefore not a simple decision.