Here is something to print & put on your fridge: With all that...

Here is something to print & put on your fridge:

With all that is going on in the discussions around the LE, my grave concern is a First Cape grab for a controlling interest in ADO. They have always expressed a view, supported by a multi-million dollar investment, that they would never allow ADO to fail. That is a positive from our largest shareholder.  Richard Martin repeated this at the AGM that FCM had always supported any CR at ADO. That is true.

There was an abysmal effort at funding the balance of the acquisition with the 11th hour withdrawal of the Canadians; this was a direct result of atrocious failure by our highly regarded Chairman, Bouris & our Financial Director, Martin to manage an arguably sensible and financially valid acquisition. On that basis alone, Richard Martin should no longer be a Director of this Company and is likely to be re-elected unless the FCM shares can support him - which should not be able to be used in such an election for one of their Directors.

Martin's response at the AGM about their reported shareholding that varied from different sections of the Annual Report seemed to be an admission that they had "loaned" some of their holding to fund their contribution to the Diasource acquisition CR. This may be a substantial reason that caused our continuing reduction of SP as the financier fiddled with the market and dumped at any time our price started to stabilise. Certainly a view that Twin espoused some time ago.

So here we are today - at next to no Market Cap and potentially an FCM "White Knight" that could ride in at threepence and gain control. If that was to happen, I would support and help fund any action against their activity to gain control because of their previous actions.

Hopefully the Board knows that we do not see this as acceptable.

Let's just watch the resolution - bring on an announcement!

Just an opinion - make your own decisions!