spewin, page-2

Spiderdew, I think you summed things up very well. It takes a lot to get me this worked up (note this is my first post in a couple of years despite being a regular HC user) but we have good cause for concern.

I have lost a similar amount through no fault of my own other than believing to some extent what I was being told by this Company's directors. When these in-specie distibutions were announced in 2010 I discounted their projections of their value to KOR shareholders by 50% which left a residual distribution to us of around 30c per KOR share. This is approximately the amount KOR shares dropped the day they went "ex entitlement". Thus one assumes most participants in the market had similar expectations.

We, the people who owned KOR shares the day they went ex-entitlement, are ENTITLED to these shares. We are the owners of these companies, MGH and LUG. I also do not understand how they can be taken from us without due compensation. I am happy to support your approach to ASIC and also seek confirmation that this is the most appropriate course of action.

The other point I would make is how can KOR shares drop on the announcement that current KOR shareholders now own the assets of MGH and LUG which supposedly were not theirs the day before?! I have taken advantage of this ludicrous situation to top up and theoretically gain some tiny compensation for the loss of my MGH and LUG shares...but only a small fraction of that taken from us.

The quick and neat capital raising today sort of confirms that I'm not the only one puzzled by this cheaper SP. Hopefully this time the money will be used to actually get one of the current KOR projects into profitable production. LUG have been stockpiling ore for ages. When are we going to be told of a plan/timetable to process and sell some gold? And we are often told how cheap and easy it will be to get Geolsec into production. So how about it!