Yep - very poor indeed. No wonder they don't have an e-mail...

Yep - very poor indeed. No wonder they don't have an e-mail address for angry investors to write to. Once again it's the "sophisticated" brokers who get to rape the retail investor and we don't even get a say.

I would imagine the Top 20 shareholders [own approx 30%] would sit in the 'sophisticated' pool, and maybe this is a tactic to appease them for the pathetic performance to date, and by so doing, ask that they obligingly approve director's remuneration and re-election. AGM on November 29th and the cynic in me says the timing of this announcement and their motives for it are less than ethical.

Rights issue seems to be an attempt to appease small holder..... but by the time that arrives, whose to say the share price won't already be down to 10cents.

I was a little concerned when the EGM sought to grant options to the directors at a 14cent exercise price - ie. perform badly so that your share price drops 7% and get rewarded with 4 million options..... makes more sense now, but again I have to question their ethics.

Have to say, like you KK, I expected a better 2010/11 given the resource boom in QLD and WA but it seems NOD have spectacularly failed once again.

Teach me to try to catch a falling knife...