Hi Bill / AllThis is 20% of the company that is being sold on...

Hi Bill / All

This is 20% of the company that is being sold on Monday for petty cash.

Market Cap at placing (if at 0.08) is only $20m.
This is less than the value of Jacka’s Nigeria asset alone, based on a very public transaction that has been in progress for 5 months and completed this month.

How can we compliment the Directors at maintain a "high" market cap?

There is not a dime in the Market Cap for all the excitement in Tunisia (and value) or the c.$17m carry in Somaliland.
Market cap is a disaster and a placing at $0.08 is an absolute mugging for shareholders.

Exploration wise they have been excellent and I think there are fantastic here.
But all this value is being destroyed by their disastrous financial management.

If this was BP, the CEO or CFO (or both) would have been fired on the spot last week; 20% of the company for petty cash. So bloody right I am angry.

My big fear is Jacka don’t realise this (or don’t care about shareholder dilution), and they do this again and again and again to finance their dream of what they lost in Uganda.