trading halt, page-29

Thanks for your thoughts and support hObO.

I haven't abandoned the forum (no time to read everyday), but I didn't want to get into a pointless back and forth with people who had a different view to mine -especially when none of us know the full story.

What I can say is that we need to think rationally and not emotionally when trying to understand what may be happening.

Firstly, what does the evidence show in answer to the two big questions:
1. Is the gold there?
2. Are management shysters or genuine?

If the company were shysters ...I think we would have seen more active shysterism ...and if the gold wasn't there ...they wouldn't have been able to indicate that gold has gone to the tailings as in the last announcement.

To me (and I don't want to argue with anyone because I don't have time and none of us know the full story yet anyway), it looks like the gold is there also is management is genuine ...however but they have previously made errors of judgment and incorrect assumptions and probably in regard to the advice they received re: mining and processing.

If I was in this situation, then I would announce to the market that we plan to do whatever we need to do to fix the issues ...and then I wouldn't update the market or resume trading until it was clear that we had actually properly addressed the issues.

Regarding the options (I have previously made my thoughts clear on what I would like to see happen), we need to keep in mind that although these events are extreme, a company doesn't have a legal obligation to option holders in the same was as it does to shareholders. I know the point was made that the SP ended up very close to the conversion price (implication being this was deliberate), but I can't see any benefit to the company in not converting the options. I also can't see 60 Mil options being converted without being well in the money (mistake to issue so many options in the first place IMHO)

Further along the logic trail, there would be no point in the company releasing news designed to deliberately try to encourage option holder's to convert (nor am I suggesting that they would want to), but conversely, it would be disappointing of option holders if a very positive news release was issued shortly after expiry.

I my assumptions are correct -what would I try to achieve I I was the company?

• re: mine in general -Release news as soon as possible confirming issues being resolved.
• re: options
  • Release news as above prior to expiry of options if possible.
  • Re-commence trading this week if possible
  • Offer option holders a plan to convert expiring options to new options with adjusted fair terms as I have previously suggested -timing and terms to reflect fair consideration to those who have already converted options.

I may not respond as I'm full on with a project at the moment and I won't argue with anyone -all entitled to our own view whether you agree with me or otherwise is irrelevant.

What will happen I don't know ...but I remain hopeful.

Cheers all,

SJB

All IMHO