why only 40c, page-9

Hi S/S... some good points. I've been in here for some time and remember that an Anglo notice referred that they had proved up a JORC of 100ml oz in 1996 and lost the lease to the other guys as they dragged their feet on progressing with it ( and I think they forgot to re-new their interest in time) . The 100ml oz was never in dispute by Anglo and other parties, but was done and accepted to SA standards which is not acceptable by Aust. regs and had to be re-drilled to meet Aust JORC conditiopns.

I'm sure that more results are out there but not being disclosed as we all seem to think that our 15% does not add up to much.That press blurb by TS valued our 15% at much more than $60 ml as he was well aware of the 100ml oz.

Strange ... can't seem to re-call NKP actually commenting or accepting the Sage ok to buy out all S/H's at $60ml ??

Stands to reason that if more oz's disclosed, we would ask for more !

Sage wants to drop this one ASAP due to some things which have occurred and going on and if they hit the fan before or after the deal, it could all go pear shape and people go away for a holiday.

Yield... next time you talk to your friend.... Ask him why he loaned $2.15 ml plus interest from IGC to his mate in Dubai - a short term loan for 2 years and repayable by 31/12/08.Also, why the loan to Exchange Minerals was then shifted to Golden Falls after one year and still is outstanding and no interest paid !!

Might ask also who are the un-listed co's he loaned around $28 mill to and why. (all this info and above are in the annual reports)

Another strange co-incidence is that his mate and his company, Exchange Minerals also floated GFE onto the market and shares were not made available to the general public.His so-called enemy and mate is the same guy TS paid $600,000 of CFE money to buy out his (Power United) GFE shares at 16.9c ( now worth 11c ) - strange what you can do with other people's money !... another good one Tony !

This same guy tried to up-end the board and stop the CFE/ MCC deal going ahead. Are they friends or enemies or just hungry to get their hands on the money !

Too many of these friendly deals done with dubious companies and people ! I doubt CEO's and/or directors of say ... Westpac, WA Newspapers, BHP, RIO,Coles,W/Worths and Wesfarmers would behave and act like this ... they are serious operators with ethics and treat their S/H's with respect.

I remember Sage saying at a meeting , that if S/H's did not approve the sale to NKP, that he would do it without their approval !

Reckon the $2.15 ml + int will go down as a bad debt !

As journo's say, dealing off-shore is the best and easiest way to lose S/H's money.

PS .. I'm in the money , paid 17-22c, so did not pay too much,but a lot have and are not happy with 42c and angry enough to talk up an EGM to dump the board in March.

TS and crew is still vulnerable to S/H's.. notice he's learnt and his holding in CFE ensures no revolt or changes without his say so ! His own private cash-cow to play with.

Lots more to play out here.Don't count your $ until the maj of S/H's vote yes (which may be doubtfull)

A good book is in here to write.


JRB