News: Shares in Groote Resources sink as mining p, page-9

re: News: Shares in Groote Resources sink as ...

groote2010

Please read the extract taken from "The Australian"

"The federal government has refused to say how much it has paid to sever the contract with Earth Connect Alliance, one of three alliances involved in the $672 million Strategic Indigenous Housing and Infrastructure Project.

Northern Territory Housing Minister Chris Burns confirmed yesterday that Earth Connect Alliance was being removed because of a failure to meet its targets, which included 75 refurbishments on Groote as well as 80 new dwellings on Groote and Bickerton islands, at a cost of about $60m.

Territory Alliance, one of the two remaining alliances, will take up the extra work"

672 MILLION DOLLARS for Indigenous works - 60 MILLION DOLLARS on Groote and Bickerton islands

groote2010 - exactly where do you think this money comes from? - The answer is not the Australian Government as they are merely the custodians of the money - the answer is the Australian Taxpayer or in other words commerce - companies like GOT whose share holders provide at risk capital which is combined with a Companies expertise to create wealth which is then shared through taxes

You seem to think that Groote TO's should not take part in that process but should still avail themselves of the extraordinary generosity of the Australian Tax payer

Now before you pull the racist card let me be quite clear about where I stand on this issue - I have no problem with money being spent in this area provided the Tax payer receives three things - 1) Value for money 2) the recipients respect and appreciate what is given to them and 3) it is a two way street any bit they can do to lessen the burden of the Tax payer should be done - I am not here suggesting that the island become one big mine or every inch of the seabed be mined and GOT are not suggesting that either - but at this point there is no discussion which I consider to completely inappropriate

Clyde

Lets get real ramblings

Note to Modes - I am not baiting groote 2010 but showing what is the Australian culture which is one where we work hard, are prepared to help those who need help, are entrepreneurial and love to have a go - it also desrves respect