TJ, Thanks for your concern however I don't personally recall a...

TJ,

Thanks for your concern however I don't personally recall a lapse in judgement, nor making derogatory remarks about directors. The purpose of my post was to simply inform the forum of the views of another well known poster in relation to the Cambodian tenements which are allegedly no longer. This is of real concern if true.

But it seems you are unable let sleeping dogs lie and continue to accuse the few knowledgable ones of endlessly ramping up this stock, inferring that they are partly responsible for the losses that nearly all shareholders have incurred? If so, you ought to be ashamed of yourself. IMO Hal & Nectar have always had an excellent understanding/grasp of the potential of the asset, frequently debating the fundamental & technical merits with yourself and others who were not as positive (but rarely contributed factual information in response) and took offence to their particular style of posting.

But what they, myself and others completely failed to detect (until it was too late) was that despite the company managing to raise over $100 million on the back of a great asset, the quality of management was never there. Promnitz for example was an effective salesman and had us all convinced that there would always be money for projects with grade and scale, but in the end shareholders lost confidence in him and the board because of their inability to effectively manage the company and our money.

I repeat that he and other members of the board/management IMO were ultimately responsible for the destruction of the shareholders wealth. To view them as incompetent is a gradual but firm opinion that I've formed during the last several months of due diligence. I'd even go as far as to say that some of their statements were not only confusing (incompetent) but downright misleading. An example of this was in the HY December 2013 report whereby the following statement was made:

(a) The Company is finalizing an equity capital raising via private placement and the directors reasonably expect to raise at least $10 million in the immediate future. In addition to the private placement, the directors have secured an additional equity funding facility of $10.8 million to be paid evenly over an 18 month period;

Here it is in black in white the company communicating to shareholders that the directors have secured an equity funding facility of $10.8 million. Happy days and based on that information I increased my holding only to discover much later that the $10.8million wasn't secured at all and in fact never existed. Despite the above statement being printed in the HY report, Gavan Farley didn't even know what I was talking about when I questioned him a few months ago. What does that tell you........

So TJ, I must ask you is the above statement from the company the fault of Hal & Nectar's optimism and my own cautious exuberance, or should management be held accountable for my (and other shareholders) losses? It is my view that management (excluding Dermott McVeigh of course) should be penalised for such statements because investment decisions were made on the false information provided by them. I trust that you at least now understand my concern re: Cambodian tenement and why I believe the time for niceties has well and truly expired.