It appears that you may be correct in your dire assessment of...

It appears that you may be correct in your dire assessment of the company's finances.

A review of the company's recent announements indicates that they plan to redeem the $5m September 06 debenture by way of a rights issues to current shareholders. With the share price at 1.3 cents this would result in the issue of at least 400million shares which dilutes shareholders interests by nearly 50%!!!!

It also remains to be seen who the shares will be sold to, who in their right mind would put more money into this company????

They have broken every single promise they have ever made and continue to mislead the market with every media release they make.

I still cannot believe the clowns that manage this company haven't managed to sell any material amounts of kaolin even though the plant has been in operation for over a year.

Worse still they have put added pressue on their already dire working capital position by building another plant in WA at the same time they haven't been able to sell kaolin from their current plant!!!!!!!!!!

When will this all end.