kajshares,Why not drop us a line at albidon dot action at...

kajshares,

Why not drop us a line at albidon dot action at hotmail dot com

We could do with your perspective on a number of issues.

From what we can gather the relationship with Jinchuan started off being supportive and positive, however as the PRC government has taken more control of Jinchuan, Jinchuan have progressively become more controlling of Albidon and their "support" less helpful. This manifests itself in 3 areas:

The notes. We understand that it was always the intention to pay them back and not convert them. Now they blow hot and cold over the issue, sometimes they want to sell them, sometimes it is convert half to debt, convert the other half and do a CR and now it is all on hold again while the review team look at it.

The control of the board. The old chairman Lee was apparently pretty good. But Sanlin Zhang who has replaced him is, we understand, a high ranking official in the communist party. Whether by design or accident they have driven other members of the board away, eg Alasadair Cooke and more recently Valentine Chitalu, leaving a totally inappropriately balanced board, with 3 out of 4 being direct employees of Jinchuan and Harry Ou Wang who has a strong affiliation with them.

The manning of the mine. Originally they sent some good people, but increasingly they have put in more and more incompetent and corrupt people in and this has driven Tony Weber the former Assistant General Manager away and just recently the local accounts manager handed in his notice as well.

The review has the potential to sort all these issues out and the more we can do to constructively support them in doing this the better. Also they need to know that we know all about their past association with Jinchuan and if they sell us out, they will be in the firing line if they or Jinchuan force us to move to a less constructive position (I hope you have seen the mentions Albidon Action has had in the media recently - all been fairly unsensationalist for the time being and would be a good route to publicise Jinchuan's acceptance of a good review equally ?.)