re: Ann: Chairmans Letter Notice of Meeting R... No company...

re: Ann: Chairmans Letter Notice of Meeting R... No company wants to be in the position that CAP finds itself in. However what appears to be a messy situation is probably in all reality going to be a huge winfall for the company and its shareholders.
This BMG mess has left us with the reality that we will own 100% of the asset that provoked us to buy the shares in the first place.
So why is the share price so low you ask ? 2 reasons.

Firstly Silvergate has been up until this point a nonsense and a distraction. They have brought nothing to the party and wasted company time and money.They have attempted to talk down the company and its board and inflict upon us some of their own people that seriously lack credibilty. They have not given us any reason to change our minds from 3 months ago yet they still want to waste our time. Whoever is advising them on strategy ought to stick to crayons and leggo, this level of stupidity is just dangerous in an adult world. I wonder if the share price has been trading freely in recent times, probably will never know.

Secondly Hawsons will cost a fortune to develop and we will have sole resposiblity for that soon. Obviously we all hope the mgt team will find a worthy and credible JV partner but the reality is this was always going to be easier once ownership of the asset was clarified. If anything potential partners might be a little put off by the antics of Silvergate but hopefully that issue will be resolved once and for all very soon. So we have this period of uncertainty and delay. Long term shareholders can live with this.

So in conclusion I feel things are much better than they seem. Sure the share price seriously undervalues the company but this was never a short term trade or turn around. Once the market sees a clear path to funding the development your patience will be handsomely rewarded.
There is absolutely no reason to be giving Silvergate anything but a good boot up the rear for a disgusting attempt at daylight robbery at our collective expense. If I thought it would achieve anything I would be far more descriptive in person.

TN