i have been having a real whinge on the shareholders feedback...

i have been having a real whinge on the shareholders feedback thread about the fact that shareholders have not been looked after. We are a one project company and whilst that is in limbo our management do nothing. anyway i think this response shows above any other response so far that now the cap raising has been done we should have another project or two announced soon.
Possibly middle east stuff like ADS as that is frank reids key area.
cheers andrewe

this is John Lemon's response to my email.

Andrew

Shareholders' interests are being taken care of first and foremost and not just the interests of Lundin.

Please do not assume that because there have been no specific announcements the Company is sitting on its hands and not looking to increase shareholder value. I have said in this forum previously, including in answer to yours and David Sealey's inquiries, that on occasion the Company is constrained from announcing details of all that the Company's management is working on. This is for legal and strategic reasons. A recent criticism was that the Company was unable to raise satisfactory funding. Obviously the Company was taking steps to secure funding, which resulted in the recent placement to large shareholders, but it would not have been sensible to disclose details of the negotiations which were taking place at the time. Work was also necessarily done for some time as a prelude to establishing the Company's Branch Office in Dubai, before the establishment of the Office could be announced to the Market.

Other work is going on. If and when it comes to fruition the results will be announced at the appropriate time, although it goes without saying that the Company will meet its obligations to disclose information to the Market as and when required by law.

Kind Regards

John Lemon
Company Secretary