Morningstar rates VAN at 8c, page-3

Interesting that Morning Star are even covering VAN, but if they are rating it on the asset and not the current management I'd say they are on the right track. If you do some research and look at the size of the resource and how advanced the VAN tenements are there is massive upside potential, the fact they they are pre-native title is also huge. This is a project that should have been producing gold 3 years ago, and there is no reason that anyone could dispute that fact. It is ready to go, and any board or management with half a brain would have done it already. Admittedly since the addition of Peter to the team at least it would appear there is now some direction and structure from an operational perspective. The issue is, and always has been the side show which is the board, and given they hold 30% of the shares, and no doubt have got friends and family to make up a significant addition to that percentage, they won't be in a hurry to go anywhere, and there isn't the ability to remove them democratically. All the balance of us can hope for is that those friends and family start asking some serious question about the obscene amounts of cash this board has raised and borrowed ($14.11m in the previous 3 years) to achieve one drill program, and in the last year alone a Sydney CBD office for $118k pa, $211k in travel expenses, $340k in employee expenses, $232k directors fees, and $232k in other expenses (no doubt lifestyle related that they would prefer not to itemize). These cost are related directly to management and total $1.133m. WHY IS THIS BEING TOLERATED? Shareholders need to grow a pair and hold this lot to account. This level of expenditure of shareholders money is unacceptable given the companies position and it's lack of performance. I'm just off to bang my head against the wall!