egm - res 2 +3 - board offers no recomdation, page-10

No need to apologise Pas. As the sp rose we could see the prospects for the $405k slipping away. We had plenty of .6ers already - but more would be most welcome! We will fill out the forms when they arrive...but dont expect to get them.

Some here obviously deperately want 2&3 to go through. But whats the realistic probability?

* Directors clearly dont want the extra 147m esi and 74m esio placed at 0.6c

* Likely the 2&3 holders already have plenty of stock, but they can't vote for themselves.

* Holders are naturally not going to want 2&3 passed as we see by the comments on HC already - and there are 5 weeks till the vote where the resistence is likely to stiffen as the sp likely creeps higher.

Based on the above - WHO is going to pass it? The ONLY ones who want it passed are DISQUALIFIED from voting on the resolutions they have a vested interest in.

I reckon there is zero chance of 2&3 being passed.

2&3 holders likely already have some 0.6ers from the r/issue, shortfall or placement. Cant win them all! As some think the sp is heading to 3c and beyond by April 27 - it might be worth buying more on market now. We did this week.

Some say there is a "moral" issue here - that 2&3 hopefuls were willing to fork out in Jan when risk was on. We were willing to fork out then and have the $$ sit in a trust account. Didnt happen that way.

True, there was risk in Jan BUT the risk was significantly less than in 2011. I see the real "heros" as those that forked out in the r/issue and shortfall in 2011 when the real risk was definitely higher. We ALL had a shot at the shortfall...but we didnt want to load up then.

We 2&3 hopefuls took the risk of waiting until the risk was lowered...and now we pay the price!

IMO its best for 2&3 folks to realise that it aint gunna happen, move on and focus on the HUGE positives happening rather than trying to push a barrow up hill for the next 5 weeks on HC.

A case of having no choice but to look on the bright side?

There will be 147m less esi and 74m less esio....a big + for your existing holding. We will have Monash with all the HUGE positives to ensure Chindia etc etc actually happen. These facts may help take away the pain of missing out.