"as disapointing as todays announcement was, I'm shocked to see...

"as disapointing as todays announcement was, I'm shocked to see many of the regular holders lose their sentiment. Macphee to me was a bonus, and nothing has been said to write it off! My main focus is Doolgunna and I would believe alot of the boards' focus too. The fact that people are talking as if the company is dead is strange given the likelyhood of striking something at Doolgunna. This company will need time (a bit more than usual given management are a little slack on ann's) and patience will be greatly rewarded IMO"

Hi hsv2001, in response to your question.

For me the Macphee situation is not the main reason for my angst, the main reason is that they have given out another 200m shares at .005 when they had no need to. They have $1.8m in the bank, surely that was enough to start the action rolling at Doolgunna, where, like every one else is thinking is where the SP increases will come from.

Why not start drilling, start announcing positive interpretations from Doolgunna, then when the SP rises accordingly the company look at a cap raising or placement at a healthier SP giving them plenty x more money or same money with way less shares.

They DO NOT NEED $1m from sophisticates for Macphee, surely Dollgunna is going to be where the action is.
Unless they already know that their is NOTHING at Doolgunna.

It ABSOLUTELY STINKS of MONEY FOR THE BOYS. The announcement said they are also using the funds for possible "acquisitions" are they out of their minds!!!!

They have a potential company maker at Doolgunna and they are diluting the company and considering acquisitions!!!
HOW ABOUT THEY GET MOVING WITH DOOLGUNNA, Native title is now approved, Tenements have been granted, what are they waiting for, thats right, their waiting to get Macphee, acquisitions and money for the boys. ARO GET REAL.

my position is hold ... extremely reluctantly holding. I just hope the tea lady can find a shovel and I don't mean to dig a hole either.