Ann: SE3 confirms continuity at South Erregulla, page-183

I admit I am conflicted about the TPD offer.

On the one hand, like Hardcash said, we have 100% of the income from Walyering and a stronger hand for finance.

On the other hand, I see (and someone can correct me here) 2.9 Billion shares in play, PLUS MS has more options yet to convert and I assume a lot more outside of their sphere.

For the company, this is a win. But that kind of dilution is going to provide a predator with 300 million more ways to keep us down. And there is no way with that many shares on offer we are worth 80cps (as the current situation stands).

So while I HAD faith in management, I feel this actually weakens us to some degree as well. I could be wrong, I hope not. Income is one thing, but it doesn't mean squat if we are left wallowing in the low to mid 30's. And with those 300 million odd extra shares, that is 300 million more votes that Athos, MS or anyone else can use to push through a quick takeover at a low price, because ultimately they only care about the bottom line now.

Retail is about the long term. Hedge funds would sell their own mother for a dollar today rather than wait 5 years for 2.