dont fret

Chaps,

It aint as bad as you are making out.

First of all, the yanks have turned out to be full of talk and short of substance. It wasn't long ago that the yank spokesperson was standing up at the AGM calling it a 2 year race. Well, they lasted 7 more months before choking.

Now Poli is a greedy bugger but you have to respect and admire his track record. He has real horsepower and deal making skills.

As I see it the very generous conversion of those notes (10 cents wasn't it?) offsets the goodies Poli and his mate are grabbing for themselves.

Next, the rights issue is renounceable so you'll be able to sell then on the market if you dont want to pay up. Now Poly is sharp, he will be looking to grab a bigger shareholding during this rights issue.

The big ugly is the consolidation. I hate them and they are a bloody disaster. Poli likes them obviously. I would like to think shareholders would vote against it but the major shareholder will be Poli so that kills that idea.

The weakness apart from the rotten consolidation is that we dont know the quality of the assets that Poli is bringing to the table but he doesn't deal in crap so I I'll take on good faith at this stage that he has some decent assets.

Another strength is that the company will have plenty of funds with Poli around, it will never be short. He likes his share prices to go up so dont get depressed, you'll make more money with Poli running the game than the yanks.

I think you'll see the gold assets accelerated under Poli. He doesn't muck around hence his desire to get that lease settled so they can get cracking I dare say.

Look its not generous but it is also not a rape. The RASL note conversion greatly offsets the negatives.

Stick with Poli and you will make money. Just get use to the fact that he will make lost more than you.

You may find his faithfull followers come into the stock as well. He will have broker support as well.