Tim...if I was you I'd be pretty upset as well. The old...

Tim...if I was you I'd be pretty upset as well. The old Directors and Management completely made a mess of what appeared to be a pretty good project and company from what I can see.

I've been involved in a lot of these recapitalisation processes and often when they are rejunevated they can yield some pretty good returns for existing shareholders.

In this particular situation it might be worth your while taking the time at having a look at the track record of the group behind the proposed recapitalisation of Macmin. A few examples include recapitalisation of Poltech (now Northern Energy Corporation(NEC), Future Corporation(FUT)and Pure Energy (PES)...this one was recently taken over by BG Group for over A$1bn in cash.

I have followed these guys for quite some time, with an interest in all these above (PES taken over). I continue to follow these guys and always make money.

I have made an inquiry as to the likelihood in obtaining shares in this and have been advised that a priority is being given to existing share holders. I would suggest as a shareholder that you get in contact with the Directors or Cygnet Capital, as I understand you may have an entitilement which may turn out in your favour. So what you see as a negative, may turn out to be a big positive for you approve the transaction and apply for some shares.

In the mean time, I hope the proposal does get up and re-lists because I will be buying them, the day they do.