dispatch of notice of meeting and explanatory , page-4

Beats me how anyone could think that getting 1c in the $ is "at least getting something".

Its no wonder shareholders get shafted all the time when so many have that attitude. Directors pay themselves whatever they like, grant themselves options, re-rate the options and shareholders go along with anything.

A new consortium comes in, wants a 55m oz Ag mine,with all the infrastucture and machinery in place, heap leaching having worked through even while the co has been in Admin. And they think throwing the old shareholders 1c in the dollar is plenty!

At least have the self respect to vote no to the 20:1 consolidation. Then existing shareholders might have a share worth 1c, still an 80% reduction in value (on the 4.4c, and 90% bought in a lot higher than that.)

If the syndicate don't think its worth that much, then they shouldn't be buying the company. It reminds me of the Macquarie Bank buying all the Beaconsfield debt for $300,000 and having made $27m by the time of mine collapse.