are we lost!!!, page-11

Much has been said about the purchase of shares by Phil. As I have said before he has enough invested in this company and does not need to be putting in another $500k. In his comments when he announced his intentions he stated “My ongoing support for the company demonstrates my consistent and continuing belief in the company’s prospects for success going forward.”

Of the 69582000 of shares that were placed in the cash raising, Shareholder take up of 23705897 ($806k), Phil 14705882 ($500k) and Sophisticated Investors 3176470 ($108k), that still leaves 27993751 ($951k) still to be placed. This could be the catalyst as to why the SP is not rising but not the reason why it is falling, that being fools are selling.

Phil also stated in his statement that the funds raised would be used firstly for Red Bore and Curra Wells and secondly for Allamber, Sophie Downs, Frank Hill and Copperfield. As his comments were made before the Allamber results were released, one suspects he might have had some insight into those results. Whether or not, his commitment to the company is very pleasing to me.

As you all know from previous posts I had great faith in Allamber and was greatly disappointed in the results. The position the company took in the court case re Red Bore suggests they have high expectations for this site along with Phil’s comments on funding , maybe this is our rainbow, let’s hope so. Previous posters have confirmed the companies direction to Red Bore.

The SP will only move upwards on good news and positive results, none of which is forthcoming. The AGM will have no effect either. So if you are not prepared to stick it out then sell. Thanks to all the unbelievers who have sold the stock down, you have helped me increase my holdings very cheaply.

Have courage and faith in Phil and the team.