aida tabakovic, page-16

Hi again pc3. I do not pretend to have the answers to your questions really. I can speculate and offer a few scenarios on some of your questions but I could be hopelessly astray because I will admit I do not know all the ins and outs in this situation. It really depends obviously on what ASX decides and whether there are further consequences for Clee and Co after that.

• Your first question about what happens to the tenements if VIC is delisted. In what I view as the worst scenario Clee and Co would walk away with the delisted company and therefore its tenements which they could later refloat in a different company. However, it may be possible that instead of getting all the spoils, the company would be put into administration and then the prospects are offered up for sale to other companies. Whether there is anything of value in what they have got is a big question mark if we are honest. Certainly some of the "prospects" are not worth much if anything.....and unfortunately that could apply to the lot if we take a cold hearted but realistic approach to the situation. The other possibility that may happen is that the relevant State Mining Depts decide that as VIC is insolvent and not a worthy company (if it is delisted and has no money) then they take the tenements back. Now remember I am just speculating with an incomplete knowledge in these circumstances so there could be factors at play here that I am not fully aware of that would impact on those situations that I have outlined. In any of the above cases, if they happened, ordinary shareholders would be left with nothing IMHO.
• So far as your second question about what happens to the BOD. Again I think it all depends. If the ASX decides simply to delist VIC and do nothing else then they walk away free to ply their wares elsewhere. If ASX uncovers enough flouting of ASX rules then it might impose some restriction perhaps or hand over the information to ASIC to peruse and deal out suitable punishments. However I am not fully conversant with all the potential punishments or restrictions that could be imposed by the Aussie regulatory authority.
• So far as your third question is concerned. So far as HDY is concerned it probably has a couple of prospects that have value and would be of interest to others if they were put up for sale. In VIC's case it is doubtful that there is anything that is going to send the heart racing for any CEO of any serious mining company. VIC has relied a lot on hype  and "nearology". The fact that it never committed much money to actual, physical exploration (drilling) says it all in my book. What did it drill over the last 4 years say ? Forget about the timid effort in Bolivia. 
• I can't really offer a suitable answer to your remaining two questions. Perhaps someone else may venture an opinion.

One thing that I will say in conclusion is that it is one thing to remain hopeful and trusting that the Directors are doing their best for the company and for the shareholders but to remain trusting after time after time of indications that they are more interested in getting more money out of the company to enjoy their lifestyle and have no interest in actual mining or getting the company getting on with its purpose then it is time for a major reality check.