are they kidding, page-2

There is the reported gold there Markj, and that the JORC is conservative. I'm sure we have not been fed a line in that regard. There is also a plant and assets, and eight (or nine?) other tenements.

The fault can only lie at board level, for not addressing some management shortcomings when they first became apparent many months ago. I recall complaints in this form as far back as January. Looking back, the first warning signals were
- the several delays in the plant,
- late resource statements and financial forecasts,
- often insufficient and unclear communications.

None of which, especially in today's market where cheap opportunities abound, would lay a foundation of confidence sufficient for and rescue package, let alone a last minute one.

So my guess is, the last minute deals just couldn't be done without extreme dilution - so administration of one of the subsidiaries in order to buy time would be the only viable decision.

We'll see in the M.D.'s report at tomorrow's AGM, and if the shares re-list - see what kind of volumes go through. Often, that parties who couldn't quite do a deal around a table have done due diligence, and they start to buy on market.

Of course this will require the suspension to come off.

But overall, clowns can make good in last year's rising market just by being there and keeping their mouths shut. But not in a falling market. Call for radical changes - sack the clowns, and put those who may be working outside of their best strengths back into areas where they do have strengths.

So a lot has been lost - staff, momentum, credibility, and from my point of view, my shirt and pants.

But not all is lost, as there are still eight or so tenements, a plant, an underground mine etc etc and low debt balance sheet.