Riverbrae - Snookered, page-76

Hangas, you are right GC has been off the scene for some time now and his name has not appeared in respect of any announcements since he was replaced as CEO.

It is strange that he has signed off as GC and not as an official of the company. Therefore, his comments merely appear to be a private response displaying the same positive attitude that has no information to support his comments. How many times has GC told us that all is going well, we are cash flow positive and in the last stages of negotiations.

Unfortunately none of his prognostications when he was the Head Honcho of have come to fruition despite the almighty spin he put on the supposed progress we were making when in fact we were doing nothing more than keeping our head above water with the occasional dunking.

I think that his idea, and that of the company, is to make an announcement or comment when the grumblings from the shareholders get too loud or too frequent. Invariably nothing of substance has issued from the company for quite some time now. As was pointed out, the disclosure re Ellume was identified and made available on Hot Copper by a regular contributor and only confirmed by GC (not the Company) when it was already in the Public Domain.

To improve communication with Shareholders they need to eliminate the bulls**t and provide at least a little bit of substance. However, if they did that we would not have had a meaningful announcement for a long time and perhaps no announcement at all apart from quarterly reports and notice of annual meeting.