Ann: WA Court Decision on Billabong Gold Matter Received, page-20

hi bobby understand your position re holding until the law suits are resolved. The attempted takeover of ZAG was a simple equation, the MC and cash holdings together with the takeover price for ZAG at the time was less than the potential law suit costs. Fortuitously VAN became the majority shareholder at the time. The recent pump and dump of ZAG’ shares on soil samples saw VAN sell the majority of their stake between 6 and 10 cents, this ironically returned enough profit to VAN to fund both law cases.