Well yes its Doomsday Davo back with another example here,anyone...

Well yes its Doomsday Davo back with another example here,

anyone been following TAM?

they had a backer in Allied property, injected a heap of much needed cash. Now TAM had a chairman named Waddell, he started the show, it was his baby BUT although his tenements ultimately proved rich in gold, he made too many mistakes as he mined shareholders not gold.

He saw the error of his ways and handed control to a guy named Sloan who got them back on the straight and narrow, imo he did an excellent job, only problem is control effectively passed to the bankers by then as Waddell had already burnt too much cash. And by this time the golden eggs had also been sold off.

Cut a long story short, Sloan moved on to greener pastures and when Waddell tried to assume the reins again he was quickly debunked by the bankers... Why? because they have control. Didn't matter that he was the founding Chairman and one time company head honcho. Didn't matter that they were invited in by Waddell as a passive investor.


Make no mistake about it, if this vote goes through in its current form Shandong get given the loaded dice, and they don't even have to pay the house to sit at the table.

With the share price down near lows seen years ago what can go wrong with a no vote?
We can't go much further down thats for sure, and even if we do Shandong will still want in, its a strategically placed gem these tenements, so What we will see is a restructured deal, Shareholders will get a better hand, Shandong will take a small haircut and they'll come back for another bite of the cherry only this time us long suffering shareholders will get to have a nibble aswell.


I will vote for a deal, but I won't vote for this one.

Davo