This company is just floundering around. Maybe the "friendly"...

This company is just floundering around. Maybe the "friendly" Koreans want that situation so as to improve the deal they extract from BUL? They are in no hurry for a deal - just let BUL burn its cash and beg for anything. With a director on the Board of BUL, the Koreans know exactly how desperate BUL is and will become even more so as cash runs down.

Where is the plan B. Need to get the Koreans out of here quick smart if they do not want to play ball. All the Asian countries have now learnt to follow the Chinese slow water torture approach with our minnows and grab massive resource bases here for next to nothing.

Has there been one deal where the small companies have done well in dealing with large Asian companies which are backed by their governments? Yeah, it is a real level playing field and we are dealing with honest and trustworthy people. Thank God we have a solid government to protect our interests. Check out BWN for one exciting example of dealing with Asian companies.

People that do not see what is coming ahead are burying their heads in the sand. BUL at 8 cents by Christmas, then 4 cents by mid 2011 while shares everywhere get pummelled (the US S&P500 is likely to be down to 960 this year, and possibly get as low as 600 over the 2-3 years), but the ASX may do somewhat better given that China/India/Japan/Korea will continue to buy some of our resources (at reduced prices). Who will give BUL more cash then, and if they do at what price?

BUL represents less than 1% of my invested funds, so in the scheme of things it does not matter. I am irked by the stupidity of the ship drifting towards rocks and people being blinded by untold riches. I have seen it before and participated in the mass delusion.

loki (now should it be a dose of Mogadon or lithium this time?)