can't be challenged - read ..., page-19

re: still hope for you lot! Australian shareholder asociation needs to pull its head in and not meddle in state affairs. Instead it should focus on the behaviour of the junior resource companies.

Cazaly has constantly made misrepresentations by esdtimating a mineral resource and then deriving a value for a mineral property they had no certainty of obtaining title to. They didn't even have an option over the land, and their entitlement to the land was totally beyond Cazaly's control.

It is generally accepted that a mineral resource estimate requires certainty of tenure to the disclosing entity.

I could go and do a valuation on Olympic Dam and then using the Western Australian spruikers manual, make all kinds of outlandish statements and representations that If I obtained the tenure, I would be worth $x billion.

I don't believe enough care has been exercised by Cazaly in the way it has promoted its potential interest in the Shovellana deposit. There should have been disclaimers galore, proximate statements emphasising the company was not guaranteed tenure, and absolutely no resource estimates or valuations that could cause an investor to make an ill informed investment decision.

All it takes is one angry shareholder and the house of cards will come tumbling down.