Ann: Share Purchase Plan Offer Document, page-102

No I don’t think it’s a good entry point as the reward/upside has contracted whilst the risk remains about the same IMO. There are safer bets out there at the moment IMO and this managment now has a record of not looking after its existing shareholders, whilst looking after themselves.

The SP has been held down IMO as explained before. If you want to debate this point answer one of my previous posts on this subject, where I give details, as I’m not going to explain it each and every time. I’m not interested in a stock whose price isn’t allowed to float on good news and managment are incapable of dong anything about it but give away shares.

I’ll consider myself lucky to get my 31.8 cents back when the final act in the plan to TO this company is hatched. In my opinion the TO will come at a 60% premium which at the current price represents a 15 cent gain or 40 cents tops. I don’t think this represents a big enough premium to warrant buying considering the risks. If the price drops to 20 cents, with build or other problems, a 60% premium works out to be a 12 cent gain or 32 cents which is the price of the raising before last and just under my average, so I get out with the skin of my teeth with my 31.8 cent average. I averaged down once already to beat the institutions, I’m not doing it again. They have beaten me, and well done to them, credit where it is due.

You’d want at least a bag or two considering the risk and I think that chance is all but gone now.

Pity as some other shareholders of another company will get to enjoy the long term benefits of this project at our expense because although managment were up to the task of discovering such a wonderful project they aren’t up to the task of protecting the project’s value IMO. They’ll look after themselves when the dilutions come but not their shareholders.Esh