psl initiate coverage, 70c price target, page-17

Doyle will get some of the 46,267,359 performance shares allocated to Stephen Turner so I assume it's "safe" to hold until the last hurdle is cleared to issue the last batch of performance shares...

5 - These securities will be issued to Afro Pacific Pty Ltd, Africa Pacific Capital (HK) Limited and Tin Zone Holdings Limited (companies in which Mr Turner has an interest) at completion of the Share Sale Agreement.



Alan D. Doyle has been Chief Executive Officer, President, Treasurer, Secretary and Principal Financial Officer of American Southwest Holdings Inc. since July 1995. Mr. Doyle served for and held senior positions with several large international resource companies prior to entering the financial services industries in the early 1980s. He then worked as a mining analyst and in the corporate division for two international stockbrokers before setting up his own corporate ... advisory firm in 1990. He found and served as Partner of Turnbull Doyle Resources Pty Ltd., which invested in various international mining projects. He found and served as Chief Executive Officer, Director and Major Shareholder of Africa Pacific Capital Limited. (formerly known as Doyle Capital, Ltd. of Sydney, Australia), as an investment banking firm, from 2001 until December 15, 2005. He has been Chairman of American Southwest Holdings Inc. since July 1995. He served as Chairman of Green Card Capital Corp. since March 13, 1995. Mr. Doyle is a 1978 Economic Geology graduate and received a post-Graduate diploma in Mineral Economics in 1979 from MacQuarie University, Sydney, Australia.

http://investing.businessweek.com/research/stocks/people/person.asp?personId=10114981&ticker=ASWT:US