morgans report of 14/4 on website, page-55

It's amazing that when people are doing poorly with their investment choice (and the same is true with many other things), they often tend to blame the person who tried to warn them, and discredit them. Ironically, they love the people who encouraged them or made the same mistakes with them, and try to twist things around to somehow say they were right all along. Surely it makes sense to say "Thanks for putting up some accurate predictions and analysis, whether or not I took notice back when it could have helped me"

Sure, Paul might have got it wrong with PGI, but this is the MAD area, isn't it? Who among us have never made a mistake or got anything wrong? If I get something right I expect people to say "Hey, well done" rather than "It doesn't mean anything because I know of a case where you weren't right!" If you want to tell him off in the PGI area, go for it, but telling him off here makes as much sense as calling him a hero in the PGI area.

I invested in MAD (initially bought in at an average of 17.5c) because the reserves looked massive, and I figured that if true, the company was worth a fortune. I held into the highs and even topped up around there, which would have been great if the reserves were accurate. I do think a mistake was made when determining the reserves, because over time the results just haven't matched. I think enough information now exists to show that, and I expect the next figure will be far lower, and likely zero - it just doesn't seem profitable. I thank Paul for being part of the influence which caused me to keep analysing and sell out when I did.

Yeager might be clever, or he might have just been lucky in the past, or he might be the smartest guy in the world, I don't know, but he is not a magician or deity. He has been offered an attractive enough reward for working for MAD to be worthwhile - think about the amount he has been given and the tiny amount of his time involved. If any of us were offered a million dollars to spend a small amount of time helping a company we knew was probably (or even definitely) going to fail, we'd still be willing to do our best, right? If we were brilliant we might be able to turn a desperate situation around, but no one can fix an impossible problem. So where does MAD stand? If the reserves aren't economic, Yeager can't change that, no matter what his previous successes are or how much they pay him. Yeager was supposed to come up with some amazing plan. Where is his plan? Are the reserves economic? If so, what's his brilliant management strategy? Why was he needed? If not, what's his big plan? Either way, other than promising that he will come up with a wonderful plan, about all he has done after being hired under extremely attractive terms, is hire someone.

Everyone is excited about the oversubscription at 31c. Excitement and sentiment based on excitement and sentiment can't last forever, but take a look and tell me what else it is based on at this point.

Good luck to all!