time changes everything?, page-4

I would only be agreeable to the (dilution) proposal if there was a binding agreement by the company to the buy back and de-list those shares once the issue capital had done its job and there was cash flow. Thus ensuring that we get the phases underway as soon as possible, eventually getting a premium for the value of the shares, and creating return for the share holders. If the return from phase 1 is in fact in the order of the 600 million being suggested then $55 mil to buy back 11 million shares at $5 dollars (lets get a premium here!) in 2 years would certainly improve everyone's lot - even yours Mr Finch. It still leaves plenty of capital to build the 2nd phase, the company would have proved its viability as an ore producer and a debt instrument should be much easier to set up. Best of all the trust of the share holders would be restored.