call from michael otten

Had a call back from Michael Otten today after he had been OS on TZL related business I believe. I had sent him an email challenging him to tell me what he's doing to promote TZL and earn his 1m options.

Didn't learn ANYTHING really ... he is basically just a PR man. He is still hoping to get a couple of "headline" articles out in Oz (Age or BRW possibly) and the US.... but don't hold your breath is my advice.

The PE agreement is still in negotiation and taking longer than anticipated (beacuse the lawyers are involved he said)....so don't hold your breath on that one either.

A NASDAQ listing is unlikley to involve a further capital raising .. it will be more a move there from the ASX (where TZL will delist). The delisting is also a lengthy procedure. The share price will need to be higher and this will most likely be achieved by a consolidation .. he indicated that the minimum sp on the NASADAQ was US$5. He was evasive on how attractive TZL would be to local brokers and instos given it will be delisting ... my suggestion that the likley "revaluation" when it moves to NASDAQ would be the attraction was not confirmed nor denied.

Little of value in the conversation really .. I remain to be convinced that the local promotion will happen anytime soon.

H