its their for all to see, page-4

Blackjack, like myself , you appear to be an avid supporter of the company , however, I found your comment concerning taking a punt in relation to the risk reward ratio, somewhat bothering. Perhaps I do not fully understand the company’s position of strength and its situation but I am not a person who would bet $7000 at the TAB in the hope of receiving $30000. I am a long suffering shareholder who was in what I believe, nothing more than deceived into investing into a company that was at the time described as a future cash cow.

I have remained a shareholder mainly because of the commitment, zeal and dedication shown by Management in particular Ron Moir, however if I thought for a second, I was about to lose my money I would have bailed long ago.

To use your figure of 3c a share this year, implies growth of around 328% and with shares on issue at a PER of say 23, that’s a profit of around $900,000. Even if those figures are way off, that doesn’t sound like a punt to me but steady growth. Another 2 and a bit years like that and the company would get to recoup the $2mil it outlaid for a worthless gold plant a long time ago.

In conclusion since Ron has been steering this company I believe it has been developing into quite a respectful company, and quite an asset and will continue to grow.