The cash would be the 2mill they hope to get from...

The cash would be the 2mill they hope to get from shareholders/investors. Any responsible Board would first put out a statement to shareholders detailing the current company position including all assets and liabilities. Until that happens we shareholders are in no position to accept anything and if the company is not solvent it should have stopped operating and gone into voluntary administration. If these people wanted any consideration from existing shareholders their minimum submission would have been to buy shares on the same terms as all other investors after all they are buying into a company that alledgedly has a range of tenements and other assets.

If we dont elect the existing board or better arrangements/submissions dont come up to elect a new board we must insist on administration. If the company is already insolvent we need it to go into administration immediately before any more damage is done.

The Board currently in place has an obligation to report to both the ASX and to all shareholders with a full disclosure on the companies financial position and activities and nothing should happen including the Board vote until that occurs.