No response yet.Im going to look like a right twat on this...

No response yet.

Im going to look like a right twat on this thread if it turns out the dumpers over the last 2 trading days are insiders who have got wind of a cap raising. Yep i have argued quite correctly that the JV means no more cap raisings for a long time ( because the JV partners have to stump up all the money)

What i havent given consideration to is they raise capital to pay off the con note. I mean they have just extended it in the past. Moreover I thought that the recent extension of the notes maturity to line up with the conclusion of the DD on conrad was a flag that the JV partner would buy the note or take a new one in its place.

Its not a cotastrophe if they did wipe the note out with new equity but I feel unnecessary as the Lerona mine goes into production in last quarter of 2013 and the cash flow will be robust from which they could pay it off in a very short time.

Plus you never want to do anything to hurt your oppie holders because they are a source of incoming funds in or before 2015.

If I dont see an announcement very soon, and more dumps occur or gains momemtum, The next mail from me is going to be brutal and blunt. They may be very clever, but and you are not paying their salaries to be treated like mushrooms.

Flux