material capital raising, page-26

Wickers,

I am trying to stay positive however at the end of the day the Directors are responsible for the prudent running of the company. Having attended the AGM, Peter Powers said that they would not raise capital "at these low levels" which at the time the SP was around 19c. They reiterated that the corporate strategy was to farm out the risks.

IMO unless there is a real need to raise capital for the benefit of holders as per my previous post then the Directors have been negligent in their duties and have let the Shareholders down. I reserve my judegement until the annoucement.

I appreciate that these are very hard times however someone needs to be made accountable if this is indeed wealth destroying for current shareholders. Andy's quarterly communications are very good however as CEO the results are not on the board.

DJ