Suspension continues !, page-726

Max,
The past performance is all we have to go on, when it comes to believing a current statement.

Malgmac just showed you figures that the statement on no more funding needed has been made before and was proved incorrect. Why would the current statement be any more believable? Why are they wasting $60m to be listed in HK, if no further funding is needed?

Management of this company has been terrible over the years. A simple DFS, when the SP was $5+ plus a cap raising and placement at $5 a few years ago, would have raised all the funds necessary, to get to mining DSO early and the plant fimished by several years ago with far less dilution than has occurred (meaning higher dividends).

Roh, the plant is not a turn key operation/contract with it's builder. If you turn thekey without any electricals, nothing will happen. The electricals are an integral part of the building of the plant. Good management would have had Sinosteel do the electricals from the get go, when the shares were worth a whole lot more, therefore less dilution.

Shadowboxer, can you identify any GOOD management decisions? That's how poor it has been with the long term shareholders bearing the cost of the failure to manage correctly via too many dilutions that are not over yet. In late 2009, after markets had recovered and the SP was between $5-$6, how it is that 3 years after discovery they still didn't know what the plant was going to cost, and then go out and organize the funds for it? Placements, shareholders, and a loan for the remainder, bang, job done.

Same question for late 2012 with the SP between $4.50-$5, when surely they SHOULD have known how much the whole show was going to cost? I mean, it was 6 years after discovery by then, and SFR were making them look bad then by getting into production only 3 years after discovery!!!

Good management would have had it all organised when the SP was on a high, including a contingency, but no, this mob wait until desperate and raise at $1.25, near 8 1/2 year long lows, where the maximum dilution happens to existing shareholders. Pitiful really!!

Can you name one decision they got correct, first up, and completed on time, since discovery?