the big picture, page-13

Nannook,

I fully understand putting things on hold to preserve capital whilst negotiations are underway for such a significant transaction.

However, we as ordinary retail investors, have to go by what has been told to us via ASX ann's. I'm sure that I've written before that I do not believe the roo sold anything because of Bayan, i guess my gut feeling was correct.
It would have been nice to have been better informed of what is transpiring, or better still have a decent suspension.

Yet in October we are told that water levels have risen as we entered into the wet season and barging can recommence - did it really?

What happened to the Japanese offtake agreement that was to buy coal last quarter?

Then early december we have more dilution because of the unknown cornerstone investors transaction getting 19.9% of the company to provide working capital - who are these investors that the company keeps refering to?

Then on the 29/12 we then sell 57% of the company to Bayan.

And we are made to believe that sales was put on hold because bayan wanted the lot ( when they are only getting 57%)

Sales may have avoided the need for the 19.9% dilution, that would have provided working capital, possibly not enough for convertible note payout, but the bayan deal would have.

I do believe there is a significant long term upside to the SP, and I have no problem waiting

BUT, some have been sceptical of the transparency that the indonesians may or may not give us....but has the roo been any more transparent?