Ann: Entitlement Issue Closure and Shortfall Notification, page-10

Only a cynical person WITH a brain would think like that Peter.

The numbers don't lie. There were also large holders who didn't take up their rights.

The sell down has been ongoing since February. Management can say they have no control over the share price. But blaming market factors out of their control is way too simplistic. The market price is a reflection of sentiment. Sentiment is influenced by commodity prices, overseas markets & investors faith in managements ability to deliver. It is the later that they do have control over & IMO are failing with. Missing 3 self imposed deadlines on completion of a PFS for a relatively small deposit like Mallee Bull does not instill confidence. Heavy help us when they then move to doing the Bankable Feasibility Study to obtain finance.