Bearman the problem is that the share price is controlled by the...

Bearman the problem is that the share price is controlled by the day traders; real investors are still sitting on the sidelines (or have already exited during the sell down from 3c).

The management are to blame: too many shares, poorly timed cap raisings, the perception that matters are allowed to drift - and now the panic: we've all noticed the sudden surge of news.

Dont get me wrong: they need cash and drilling in the PNG highlands is very expensive. But they could have handled and timed their news flow much better. They now need to bite the bullet: consolidate the shares to get rid of the day traders and as you say, properly articulate where the business is. They also need to market the story afresh.

Macquarie used to be a big supporter of this stock; now they've given up. To me that says it all. I still have a big holding but for now I only hope to try to cut my losses - unless managmenet lifts their game significantly.