Ann: Correction to Appendix 5B, page-9

good question and 1 that I'm keen to have some fun with.

a few points:

1. It is not illegal to be a moron.
2. Fox is a moron but also a Muppet with someone's hand up his rear orifice dictating how they will scam the market
3. There is a parcel of STM there which should be spread around
4. I suspect there are some FIRB rules which the major shareholders have traditionally pushed.
5. The absence of response Notice of Intent outcomes is possibly at the edge of continuous disclosure.
6. They are running out of cash to pay themselves, so something must happen sooner rather than later.
7. High probability that Muppet Fox is a director elsewhere .. that might prove to be a 'target focus'
8. It really is a case of socialise losses, privatise profits.  The recent shareholder I think is positioned to swoop up anything of value given PNX's demise.  Maybe that's where the weak spot is ... frustrate that aspect might be a path!
9. What's the project worth in its current form.  My hunch is heavily discounted so long as PNX is involved ... after all, it's all about salary for them.  Where else would these fools get a job?

Again, don't know the answer.  Moron's aren't terribly ashamed of themselves so confronting them is not overly powerful.  Need to find a way to the major shareholders hip-pocket me thinks.

Have a great day