fox davies quits, page-19

Have had some concerns over JT and even though i do not think it is time to get rid of him i am not happy with the way he has run things Transmeta.

Should have been able to raise more money over the years, should have done a deal long before now, and he does not look after his shareholders. The communication,PR and marketing side have been poor. Talking of off takes he should have arranged one for the tin when it was at its peek. Also the the first off take agreement was five years ago shows how long it has taken to get to this stage!

http://www.gippslandltd.com/announcements/documents/ASX%20040202.pdf

JT has spent too much time looking for some perfect deal and now he finds himself at the stage where he has to put his own money in to keep things going. Gippsland have done a good job on the mining side but a poor job on a lot of the business side and as JT is the boss the buck stops with him.

As for the strategy to get financed i would think it was the obvious route after JT turned the IFC deal down and i am not going to give him any applause for that as it was suggested by other people if my memory is right.

Robert