Yeah, a pity they can't cancel them-much cleaner and we know...

Yeah, a pity they can't cancel them-much cleaner and we know where we stand. As it is, it is a sword of Damocles hanging over our heads, as I do not trust management to do the right thing by existing shareholders when the time comes to sell them. Having said that, even if they were cancelled, they could always just issue more shares at a discount to a new, cornerstone investor (we can trust the new guys wouldn't screw us, eh?), so maybe no great difference.

I accept that quarantining those shares from the NTA is a fair enough call, given the current situation.

Well the NTA discount is now huge (>40%), as predicted by the naysayers to the Carrousel and Weiss proposal. A lack of spare $ has stopped the buyback, but hopefully they bought into the AGO rights issue at $2 the other week, given the AGO price has now jumped to over $3. I'll be dirty if they passed it up because Carrousel and Weiss have all our moolah.