Would love to be a fly on the wall right now – I can imagine the...

Would love to be a fly on the wall right now – I can imagine the conversation going a little like this –(this is supposed to be in jest

ASX: ummmm excuse me – we cant publish your scoping study - Don’t you know there’s now a bunch of questions you have to answer befor we issue these nowadays?
Peter: oops – dropped the ball – think I filed that letter in the bin – so what’s the problem officer? – what have you changed?
ASX: you need to indicate how you intend to finance this project.
Peter: oh crap….. why’d you go and change that? – how the hell am I supposed to find finance at this stage?
ASX: not my problem – heres a suspension go figure it out

**** light bulb moment – ask the Chinese shareholders – they’re good for a few bucks! ****

Peter: Minjar – my good buddies / pals / chumski’s – so we have a tiny problem– asx want finance terms before we can issue the scoping study and come out of suspension – you up for putting your name to this deal I just wrote on the back of this beer mat?
Minjar: – sure we’ll take a look – what you thinking?
Peter: well – we need to tell asx that we can find $70m for this factory – so I’m thinking – 70m shares at $1 and that should sort us.
Minjar: *** wee themselves laughing*** ahh…… no
Peter: ok… what give me a ballpark here? – it’s just to get the ball rolling – we can always tell asx it didn’t pan out after - how about 75c a share?
Minjar: how about 3.5 billion shares for 2c a share
Peter: what!!! No way come on guys – play fair -  give me a realistic figure here
Minjar: (whispers together – he knows we’re businessmen right?) hum let me think about that – ok how about 1.7 billion for 4c a share
Peter: oh man – I thought you were cool – I thought you’d help me look after the little guy. That’ll dilute the hell out of everyone including me and my performance shares – how about 50c a share?
Minjar: Peter – have you looked out the window recently? – have you seen the graphite market? Have you seen the mining sector? – have you seen the Perth economy? – it’s all in the toilet. – 5.0c a share final offer
Peter: throws his hands in the air – fine – asx can wait – suspension it is – come back to me when you see sense


****14 days latter****


Peter: come on – help me out here!  - I’m getting moaned at left right and centre – we need to lift this suspension. Give me a fair price!
Minjar: remind me again – what’s the annual tonnage? What’s the costs per ton?
Peter: er – 60k tons a year – costs are going to be $600 a ton if we can sell the lot…why?
Minjar: ok 6c a share- final offer – that'll give us 65% controlling interest -  then we can make a buck selling the graphite to our sister company over in china – for what say $601 a ton? – that’ll give us a profit of $60k a year - … shareholders get 0.0000000000000000000000000000000001 dividend per share … sister company makes a crap ton of money -  sounds good!
Peter: gosh darn it - white knights turned out to be black knights!! - who ever would have seen that coming?? fine – sign here on this dotted line - asx you can lift the suspension now

Shareholders: (*facepalm*) shares in the toilet – stampede for the exit.


this whole situation is a joke quite frankly! - so annoying!