At first I thought someone was releasing a documentary about our...

At first I thought someone was releasing a documentary about our board!

We're nearly 3 months since the disaster of the AGM and can't say that there's much here to keep me excited. I surely can't work out why I'm reading posts of people buying more shares to average their cost down.

There's plenty of other stocks that have got to offer better prospects and far nearer term prospects than what we have ahead of us. Surely it is better to spread your risk. I recently read through the 2008 QGC annual report and I was pretty impressed with the maturity that company reached in 6 years. Then I look at our company and ask can the Muppets that are running our company achieve the same thing.

No chance!

It was great for the board to say that the Echuca Shoals deal that RC brought to them was unacceptable. But it still remains a few characters printed on an annual report that sitting there doing nothing. Longtom cash is about all we have and it will be going towards the debt repayment being due in 2014, but then it will probably service the renewal of that debt. So where's the money going to come from to take our other projects forward.

I'd still love them to sell out of CRUX and make a capital return to shareholders. All of it! No letting them keep any of it as play money and to pay themselves.

Have a read of the QGC annual report. You can pick it up off the ASX Announcements web site. You'll see what I mean about how far the divide is between the two companies.

If anyone feels the same, send an email to the company and let them know what you think.

But I could be the only one. There's probably people out there that think waiting 14 years to commercialise an asset is a great achievement! Just like selling part of it off for around $50m and then nearly having to pay that amount back, just to extend you right to liquids for 3 years.

A true bunch of Muppets!

Can't wait for the next instalment. Can you Nasty1?

Arobert

PS: Still no response from the Board to my email and nothing from M&G Investments. I wasn't all that complimentary to the two instos that did change their vote. Maybe they were the ones that changed their vote.