mamma mia starts tomorrow

The way I "see" it, and OPINION without prejudice of course cos too much cosmic smoke abounds, HNC has acquired all the assets of CMR by seemingly exploiting current ozzie corporate laws which allow. Biz is biz bro.

If they had kept quiet and not changed their minds one more day, their debt (which we NEVER knew was secured until the Administrators advised) would have been equitized at 42cps at the CMR EGM, as would have GT's, and we would still be alive and prob sitting at 60c now facing some kinda future.

IMO HNC were probably advised by their corporate advisors the opportunity existed to LEGALLY trigger the sequence of events which now sees them in full control over ALL assets inc URANIUM and GOLD resources of CMR instead of being just a JV partner in oxides project only. Cheap pickings only for the lot hey? Biz is biz I guess. Reasons why this opportunity even arose is another issue of course and needs to be dealt with later I guess.

IMO there needs to be an overhaul of our corporate laws to be more appropriate to the times otherwise Oz is lost to foreigners with big pockets.

IMO there also needs to be some more APPRPRIATE FIRB laws put in place (AND POLICED) re Ozzie asset ownership by aliens. What happened to the "proscribed material" status of URANIUM assets ??? Shouldnt the FEDS have a say over this now ?

IMO The only way we are going to see any kind of at least moral justice here is if the FED GOVERNMENT INTERVENES to stop this sequence of events which is coming to a conclusion NOT seemingly favouring our best national interests or even national security (?) Opinion.

IMO the only others who can really INTERVENE on shareholders behalf is ASIC. Am pretty sure they are keeping an eye on this but so far nothing from them. Maybe need a nod from Canberra (?) cos this looks to be a sovereign issue involving PRC .... HNC are 40% PRC owned ..... and atm we seem to be sensitive to upsetting our Sino friends. Btw personally LOVE working with the Chinese and have no probs upsetting them espesh when we've all had a few drinks together haha .... but give an inch and u lose a mile .... biz is biz ... we just aint used to dealing this way. Maybe our politicos need to bring out the local rice wine when doing the national biz.

Back to Thursday's meet. Even tho called in by CMR directors who found themselves pushed in a corner, FH are supposed to be independent. IMO FH need to confirm this independence by not ignoring the legal opinions submitted by shareholders claiming creditor status. Then again if they accept the legal opinions, opens up another can of worms (?) Catch 22 (?) Hold-Em poker bros but we gotta place the blind.

In their recent 439A, FH, 2 points really stick out and hard to digest

(1) 3 alien creditors met in Beijing on Mar 5 - 6 to discuss a HNC DOCA on how to carve up our TOTAL (?) Ozzie asset.

(2) Interesting 14.5 mill lbs URANIUM are cited as a CMR asset cos last I remember, correct me if Im wrong, didnt CMR previously announce a downgrade to 2 mill lbs without detailed explanation to shareholders ........ now u see it, then u dont, now u see it again. I personally am confused but that aint difficult these days.

Kinda suspect / agree with general sentiment our creditors vote looks like being some kinda token gesture ........ being allowed to vote kinda shows there is indeed a reasonable Ozzie content here to any regulators watching the story unfold ..... but is there, if we aint accepted as creditors first ??? More to confuse me.

Anyway, confusing all round, but guess I will exercise my "right" to make a "maybe creditor vote" and say "yes" to a going down the path of a DOCA even tho I dont have any confirmation of my acceptance as creditor ..... pretty funny if it wasnt so deadly serious hey ? ..... reckon many of u are as frustrated as I on this point.

The only alternative the sytem seems to provide is liquidation ... a process which would prob deliver it ALL to HNC's hands even cheaper .... so cant vote on that.

Of course the GOVERNMENT or ASIC REALLY COULD INTERVENE IF THEY WANTED TO .... couldnt they at least push for a pause to allow for deeper delving ? .... and stop this IMMINENT and seemingly "legal" transfer of wealth from Ozzie hands to aliens (???)

Then again don't HNC ... err HAR ... already have a 76% owned Ozzie listed vehicle in AII ? Why-t-f did they want AII in the first place since it was only an explorer with a dubiously viable asset base relative to proven commercial resource base of CMR's ??? Thats another thought I have posed in here many times ... forward strategic planning years ahead of the game possibly? .... the PRC tends to do that unlike our daytrading mentality in Oz.

In reality there is now an opportunity for FACE to be SAVED by ALL concerned if the MORALLY RIGHT thing is done and CMR is "allowed" to continue AS IS for ALL shareholders and creditors to benefit alike ...... there should be NO distinction on this. However on face value that certainly aint in HNC's best commercial interests given they already effectively control the lot ....... unfortunately our Ozzie laws allow them the option to choose what is. Opinion.

Otherwise maybe the Oz PUBLIC should be made aware of how easy it is under current legislation to give away our generationally significant assets without anyone raising a finger to save them. Doubt the pollies in power would want that (?)

Personally am tired of all this but since my dreams have been shattered without personal input to my fate, guess I would like to see some MORAL JUSTICE in the very least here. I cant digest what we are being forced to swallow and would like to see some OZZIE ALLIES with clout come outa the woodwork and make a real name for themselves by helping the ordinary folk here who have blown big licks of their super funds supporting what SHOULD HAVE BEEN AN OZZIE ICON .... as fed to us in past GMs.

I want to see the regulators delve and the politicians stick up for Ozzies .... good start with OZL and Prominent Hill bros ... come on, follow up here PLEASE.

Opinions, dreams and nightmares only ... food for cosmic thought ... puff !

If I had any money left I might be asking for court injunctions and going thru the costly legal process ... but all my cash is at the bottom of the harbour in the broken hull of the ARK which unfortunately did not avoid the GORM reef off the Somalian coast, even with all the hi-tech equipment on board and our corporate regulators manning the radar and sonar (?)

I have just submitted my (Claytons ?) votes and now await the Fates ... but still hoping for a Superman to save us in the nick of time ... yeah too many movies.

Sure biz is biz .... but hey, we were gonna be partners weren't we ??? That aint a nice way to make a mark in Oz ... might backfire on HNC later.

Btw I note "David" Bo is up for re-election on the AII Board. Isn't that the same gent who brokered our JV with HNC? I retain shares in AII on pure spec.

GOOD LUCK BROS ............ methinks game over on Thursday unless there are some Ozzies with clout and a bit of Ozzie pride watching (?)

Good onya Cuzo and your Pirates .... Leonidas of the 300 on TV last nite gave some inspiration .... but he was killed in the end anyway.

Lets see ........ you never know.

IMBOOC and thinking out the possible permutations and combinations aloud as always. I need a drink.

Agree with Cuzo though, it starts here not ends. You cant take away a generation's worth of real assets for peanuts from the Oz public without their knowledge and input IMO. FED government should heed the little voices cos they can amplify in a hurry with the right acoustics.

For now tho, HOPING FH show their true independence and the Oz regulators show a keen interest. NT Gov must be severely embarrassed cos they know and they are avoiding contact. But its the FEDS who need to stand up and make a stand cos it is NATIONAL ISSUES under the microscope here. Opinion again.

I am sick of all this and just wanna go open my cheap Ozzie bar in the Himalayas.

IMBOOC