Just wanted to get peoples ideas on the recent announcements and...

Just wanted to get peoples ideas on the recent announcements and some possible anomalies I have found whilst re-reading them over the weekend (wet weather in Sydney)

1. 27/2 announcement said that EM survey to be conducted during early march to determine location of drilling areas, which would commence in April

2. 17/3 announcement said that EM survey equipment is being brought to site and is to commence within 10 days

3. Section 5.1 of the prospectus then says that rights issue funds will be used (among other things) for EM survey and interpretation and drilling and assay work.

Now the prospectus doesn't specifically say Warakapola, however to the best of my knowledge the EM survey still has not commenced, which makes it well and truly overdue. This makes me suspect that they never had the funds to do it without the $1.4 million rights issue funds.

I'm happy to be shown that I am wrong but I just don't like it when management are not completely open with shareholders. Not saying that is the case, but would just like to hear peoples thoughts on this.

Personally I am hopeful that they are going to announce that the rights issue was a huge success and then a day or so later they will follow it up with an announcement on the EM survey. This should then get the SP price moving north again.

I am still very positive about this company, however I have been involved in other forums where the discussions are a little bit to swayed to the positive side, which can make you a little inclined to having the blinkers on to potential issues that may arise.

Sorry everyone for the long winded post (except nasa who I know loves a long post - ha ha ha).