ib daiwa sells shares, page-2

Trees, if I wanted a tax write off I'd make a donation The Smith Family not effectively the Poole family. I came into ADD to make money & all that's happened is I've contributed to the lifestyle of a few Martin Place investment 'gurus'. This stinks & I hope a few disgruntled types turn up to the AGM to voice their displeasure.

My bet is after 12 > 18 months of promises re the Indo coal deal at Tapan it's a fizzer. Just be honest with the shareholder for once & admit its a dead duck. Daiwa are onto it & that was the last straw for them. JR can ferret around in Indonesia all he likes but with the limited money now left in the cookie jar, he's not going to come up with a replacement project of any consequence, our cash & reputation will preclude us from anything real. I feel very sorry for the investors who got in pre consolidation as they've been played for mugs. I got in post consolidation & I feel I've been played for a mug, but at least I've only lost half my money.

What a difference between this carcass & sister company RMG, at least there there are some solid, real, experienced investors & the board are all up to the task. I hope a merger between these two is not on the cards, because all it would do is drag down RMG just when it's started to spark.