is anyone still holding, concerned??

Res 5 at the AGM.

Read it yet??

Issue of 44,000,000 to raise hopefully around $5 mill, if they can get the price up around 14 cents and keep it there. At current prices the 44 mil shares will raise around $2.5 mill.

Instant double dilution.

Shares to be isued to whoever the directors want??

Here we go again...

Pirra, what do you think about re electing Muir onto NUP? NUP now Sydney based, Muir in WA, could explain how they can rack up travel/accom costs of over $160k in 2008 fy. No one else is standing from what I can read so what choice do we have?

I get the feeling it is going to be a while (5-10 years) before we actually sell any U for income. To suddenly double the shares on issue so early in our life doesn't bode that well for the future.

Still holding, just not sure why??

TCG