Firehawk, I'm a long time personal shareholder as I've said many...

Firehawk,

I'm a long time personal shareholder as I've said many times. Nothing more.

I'm getting defensive because Worzel has come out with statements to the affect that Liberia is worth nothing and that the directors are acting improperly. Even he admits that their is no information to judge it on, so how can he be right in making these statement. He doesn't believe the company has the financial or technical resources to develop a project of this type, but the evidence points to directors who actually were first movers into the Kundana area in the early 80's, pegging great swaths of ground, from south of Binduli to around the old Bakers Find at a time when no one else was interested. They did the grassroots exploration work, they discovered the majority of the deposits that are currently being mine today. They showed vision in their ground selection, grit and persistence with their exploration work and innovation with the financing of their share of the mine. If you go back and check, from memory, the finance deal they did was a one of a kind, with innovative finance terms, that had never before been seen in mine financing (paid back the money extremely quickly as well). I believe they are adopting the same formula in Africa. In Ghana once again early movers (try and get any gold ground in Ghana at this address now, not easy), doing the hard grassroots and early exploration work, making discoveries just down the road from a big hungry mill .Deal
yet to come if the discoveries they've made stack up. Something to look forward to in my opinion. Same can be said for Liberia, early movers securing a large prospective area of iron formations near to existing infrastructure, doing the grassroots exploration, making the discovery and proving up the scale of the thing. As I've said before I believe the share issues allow equity to be raised at later stages of financing, the dilution on changes of scale of this type are inevitable one way or another as iron ore projects need larger levels of funding. If you don't like it sell your shares when a decision to proceed is made, that's all I can advise. It really doesn't get any fairer than that. You know it is coming make your choice at the time that it is formerly announced. That is the way corporations and the market works, directors make the decisions, shareholders vote if necessary and the market is there so that you can sell your shares if you don't like the direction the directors are taking the company in. Not rocket science.

Worzel just thinks he knows better than the people who have been in the game for 20+ years and are cleverly making money for their shareholders, wants to organise a shareholder rebellion. Worzel why don't you put your own money down, roll up your sleaves, go and peg some ground, float a company, then you can be a director and you can show us how easy it is. When you've done that and your share price is solid, come back and I might pay some attention to you.


I am sticking with these shares as long as the current directors are here to guide the way. They never take any big risks and that's what I like.

SilentO