i propose a merger, page-7

Yeah Asteroider agree with you. Mind you a turnip could probably do better than some resource company managements. I would rather see administration than accept the current proposal. Am hoping that an alternative group of Directors eventuate at the AGM as that will be our only hope. If the current Directors are aligned or part of the consortium then they will be acting in conflict as they will be acting in their own interests rather than all shareholders. Also given that the consortium may have been made privy to the current financial circumstances whereas ordinary shareholders have not there are disclosure issues. Coupled with that if what has been said about escrowed shares having been sold is correct ASIC needs to intervene and investigate all issues and while doing so should prevent any significant decisions being made.

Must admit this is giving me the poops. I buy shares in a company and I feel like I have been taken to the cleaners with no rights and its always the existing shareholders who get shafted. Lets put as many barriers as possible in the way of this occurring. ASIC I believe is the key unless some other benefactor comes forward which I doubt.