Ann: Preliminary Final Report , page-3

Tana, I agree the PGL deal would have provided the working capital, but it wasn't very favourable to shareholders. I did notice in today's financials the washup of that failed deal.

"During the year the Company incurred expenses of $1,077,000 ($573,000 net of break fees received) in regard to a failed merger transaction with Progen Limited." I wonder how they can truly justify the following... "consultancy fees of $29,564 paid to Mr Drona". AVX have since then kept him in a very low profile. There is no doubt they have the expertise in key positions and I would like to believe that their silence is due to confidentiality agreements, rather than ineptitude.