Ann: Company Update, page-24

It looks very much like they are stalling the project until they manage to flog it off.

Good luck raising $10 million in a rights issue off the back of this wet blanket announcement. Looks like they are starting the process of wearing down holders, gaining bigger stakes through dilution, all before the final digrace of the fire sale. Meanwhile shareholders will now be paying them for the privelege of sinking the company's prospects and will end up paying them big time if they do an asset sale. Check out their previous form when they "returned cash" this way. Cha-Ching.



We were warned. We should have all got off our backsides and voted. Oh well.

This is really bad for the image of the industry IMO.