Meeting scheduled for today @ 11.00 am in Melbourne by Ferrier...

Meeting scheduled for today @ 11.00 am in Melbourne by Ferrier Hodgson.

Proposal to enter a Deed of Company Arrangement, which means shareholders get ~zilch~.

On FH website in 2nd creditors circular, found this:

"My preliminary view is that the Company failed because of:
. Acts of God, namely two super typhoons which severely affected the mines ability top operate;
. Inadequate equipment due to delays in the delivery of vital machinery;
. Poor communication between senior and local management;
. Lack of adequate working capital."

No thanks to (amongst others) the useless Board of Directors, the Pines government, Catholic Church (never go there again) the greenies & an Australian bank.