Hi RatfishNothing you've said or anything I've read has changed...

Hi Ratfish

Nothing you've said or anything I've read has changed my mind about this deal. I leave it open to the company to prove me wrong.

Basically the only way to do it is compare the following:

1. Sell the full 17% to Shell and give shareholders 48 cents today to invest somewhere else.
2. What is the NPV of the CRUX liquids go it alone per share in today's money.
3. What is the NPV of the new JV per share in today's money.

And list the assumptions made in that analysis.

Without this information, how can anyone make any meaningful assessment of this deal???

What is certain though is that we have a bunch of leaches that have been sucking millions from our company and they drove out the only bright light I ever saw in the last four years - RC!

Look at the salaries they pay themselves and tell me that we couldn't find more capable and better skilled people for even half that price.

I'm even questioning whether they knew where this was all going at the AGM and put it in as an option, but didn't come clean as to where the CRUX stand alone was really at.

Why would they? They had $1m salaries to protect. They're not going to get that anywhere else! I think these guys have lost the hunger long ago. They paid themselves out before they delivered and that's where it all went wrong. They just don't have the DNA for people that can build companies. It takes an extraordinary amount of energy and determination.

And I do own stock. Quite a bit of it and it once was worth a fair pie. I will be doing some further analysis on our wonderful directors later and posting that. I think the numbers will speak for themselves.

I will continue writing to the board and hope that others will as well, probably with much more clout than me, holding them accountable.

I want to know why I should be "over-joyed" with this deal, when the containing people significantly smarter than all of us, could only attribute 2 cents to the deal. If it were that good, wouldn't our share price be closer to 48 cents instead of 26 cents???

Give me the numbers and facts!

Arobert
Top 10 Member of the RC Fanclub and wish I had been a shareholder in QGC!

By the way I don't know RC, but from what I've seen and heard of him. I've worked for people like that before and know what they are capable of delivering. They are not nice to work for, but after work during a drink they are great and they deliver!