Ann: Apex Capital Raising , page-47

My take on all this in pretty much in line with Kingy's - I don't think $20M is going to be enough.

Fact - they are waaaay behind in capital development

Fact - they are even further behind on resource drilling

Fact - they haven't drilled an exploration hole for over 2 years.

Fact - Jeremy Robinson - business analyst hasn't worked there for over 2 years

Fact - Ashley has got out of jail on this (maybe literally) with a massive golden handshake

Fact - for the first time in years they will trade solvent for a while at least.

Interesting Kim Robinson has stepped down from Kagara after sacking 130 people - pity MA didn't have the same spine to fall on his sword long ago.

I think the consolidation witll lead to further decline in the SP - I didn't realise the SIR devaluation - 87% wow that has flown under the radar a bit and the MD gave himself a tidy pay rise last year on the back of that - good if you can get it I guess!

Not convinced Eduard can turn this around - my guess is that the operation will be shut within 3 months and any remaining $$ will go towards exploration and trying to find some larger scale lower grade open pitable ore somewhere.

Watch for a consolidation play with others in the area.

Sentiment - WOOF WOOF WOOF

Feel really sorry for those who got sucked in by the lies and false promises. Luckily enough I guessed right and got out ages ago at a profit overall.