ml has been lending the stock to the shorters, page-38

hi mate,

I dont agree with you. Of course the mutual fund, superfund, mgt fund can lend the shares to other guys in order to gain interest. However, it is seldom that the existing substantial shareholder of a "no value" stock lending his shares to other guy to destroy of an golden swan which can give him golden eggs.

Dont led other people to believe you that gives the maangement an excuse to escape.

I feel you are ML guy or the Chinese investor's advisor to protect them from public irresponsibility. They are flighting for their own interest rather than the company interest. In order to take benefit from the company, they use the bear market opportunity to push down the share price so gives the management an excuse to sell portion or whole project to a "third party" (the same interest related party) at a lower price. Does anyone remember there was a rumour few months ago the mgt might sell portion to Chinese guy so the share price tumble after it trading halt. i.e. an announcement of signing contract with port. Is it necessary to trading halt twice in one day?

The M.D. is talking BS since he assume all of the fund managers will not support placement. To be honest, I will fully support placement cos it will give us an opportunity to buy at lower price level then the company will have enough money to develop the project. If the management is capable , the underwriter can easily push up the price then place the share at a higher price. Finally, it is no need to sell any portion of the project at lower price and, issue of new shares is minimised so to protect great dilution of existing shareholder interest.

To conclude, they can do it easily but they choose the method to take money fron us. I suggust we should kick out the directors if they really support selling portion of the project at lower price. I am not an big investor but I believe more than 20% of retail investor will support me.