current status?, page-67

Thanks Supertim

I thought it was the shareholders who got caught in the PFS aftermath were the ones with the 'hurt money'?! ;)

I must admit the term sounds like a safety net for the company..The Australia Red Cross perhaps?

That is, many shareholders are Australian, they are seeing Red, and they are very Cross at recent events!

Too bad the company didn't think of the safety net and 'hurt money' before they asked for an addiotional $4 million at 78 cents...after they miscalculated asking for that in the first capital raising late 2010 (that if you remember dragged the shareprice all the way down from levels around 90 cents.

And...was 'only' offered to the 'big boys' at...wait for it..

57 cents! - no SPP offered to the smaller shareholders then huh?

I think thats a damning statistic on the management team

I recall the market dropped considerably a few weeks before that 57 cent capital announcement, and then after it dropped the sophisticated investors got another 12% discount on top of that.

Handy for those who might have had an inkling perhaps (call it a sixth sense maybe) about the cap raising before the market did eh?

The management team it seems are still spinning the talk and have 'bought another month or two' with 'some' investors at least in regards to the 'spin'

As some more learned posters here have stated, just be aware of results and what has been promised and delivered to date.

Its a time to be vigilant and to not get taken for another ride.

If theres one thing a lot here would agree with is that the company can spin a good yarn.

So by all means look forward (as I do) with optimism and hope...but these guys need to demonstrate they give a damn about shareholders.

And based on what i've seen 'so far' the evidence before me is they do not.
The actions have not supported that.

Glad to be proven wrong of course 'in the future' because its not something I want to be right about...obviously!

On the PFS it should be said that the company had the data for the PFS 'from memory' around late April or into early May didn't it?

I recall one poster asking the company (allegedly) about it (PFS) and was (allegedly) given the response that it was a "thing of beauty"

Hmmm If that is true then it certainly raises some (more) questions...the market thought it was anything but beautiful..in fact the market thought it was natural disaster.

Just how long does the JTC need to make a decision? And based on company comments the JTC is the preferred partner so a decision it would appear is for them to make (at least initially).

And when did they get hold of the PFS information (or the necessary data to make an informed decision) anyway?

Was it on the ASX release date...or before then?

Important points I would have thought as from what I can determine with what i've heard since the PFS, we seem to be getting extended time frames on completion of negotiations.

Read as 'further delays' and 'explanations'

But we continue to hear that the interested parties were not concerned by the new numbers.

So where are the hold ups? Strong interest means the project is attractive.

But we have a 27 cent shareprice???

Ambiguous I would have thought.

As I say folks, be vigilant here. The management team have a lot of ground to make up.

The time for management love ins is not now...

They still have a hell of a lot to prove and a lot of ground to make up..

And the first target is the SPP target of 78 cents.