time to earn your keep guys, page-7

Isn't it ironic that the board has finally made the correct call, albeit a bit bloody late, and then be treated in such a way by the market.

There have been so many options overlooked by this Board over the past 12-18 months in terms of securing funding through the cycle and limiting the quarterly cash burn. There is no avoiding this fact and it should not be overlooked despite their altruistic "up to" 30% hair cut.

Given the M&A in the sector over the past 12 months at bottom of they cycle pricing this is a dead certainty IMO of getting a new owner at sub 30c once the product is acceptance tested.

What's really infuriating is the same set of corporate advisers will now likely get paid to provide advice on such a transaction.