The insertion of item 7 of section 611 was probably at the...

The insertion of item 7 of section 611 was probably at the insistence of ASIC to warn shareholders of the implications of a YES vote.

ASIC will hopefully be watching this carefully as it is virtually the takeover of a public company by a group ( note holders) that have been offered the company at a hugely discounted price by the Board. A YES vote secures the deal for them.

A NO vote may mean the note holders take over by default however in light of the antics of last year, we would probably be very successful in a class action. Also a NO vote will mean that shareholders do not want to lose their investment and maybe shareholders can use their power to replace this Board. With gold prices up if we had a different Board the company may be very successful public company instead of a successful private company that seems to this Board's intention