Ann: Quarterly Activities Report and Quarterly Cashflow Report, page-26

Hey Wths,

HC does that often. Some glitch they've never fixed.

Your comment around Luna's land rights - read somewhere a while ago that (some of) their rights were in dispute. Can't find it now and haven't been able to find anything else about it. Have also read that Hersh is hard to deal with, but don't attribute much to that especially when it's said about a woman. Usually means she's a tough negotiator. That said, Astro saw enough, or too little, to kick it into touch, elevate Leibowitz to Exec Chair and go it alone. Get the impression that DLM gave it air in the quarterly as it might have been material had something come of it. Now it hasn't, it's irrelevant.

Beginning to think the original ~5%/$400k DLM took in Luna was perhaps more a case of this could be interesting let's see if anything comes of it. That they haven't increased the stake and are still looking around for the right opportunity suggests Luna isn't the one. And we won't know if Georgia Lime is in the mix until they tell us.

Agree re the SP base...I think. Certainly, no appetite to sell it down, equally no appetite to buy it up. Pretty sure if there was something happening in the background the SP would be ticking up. And the T20 only hold 36%. Not entirely convincing.

As you say, they got the job done relisting the shell as a resource play. 2 years later we still don't know what the play is and neither, it seems, do they.

It's obviously going to be a longer road than anyone thought. Macro enviro doesn't help. I take heart from what Apollo have done with IPX. I held some TAO when it was cents in the dollar and sold because I thought it was taking too long!

BTW HC wouldn't let me post this either. Quick tip, if that happens, just cut and paste your post, open Old HC from the link at the bottom of the page and repost. Works every time.