Ann: Quarterly Activities Report, page-23

G'day Towie. And the opposite can also be said that the CN holders have a vested interest in keeping the SP as low as possible if they want to convert income and notes to actual shares, more equity!
And who hold most of those CNs?
Frankly, I don't think that they want $20 million, it creates a potential massive blow out in dilution and actually force them to DO something.
I don't think that they ever want to do anything that will take them away from their desks. Their very long history proves that they are not doers.
They want j/vs and agreements such as that very mysterious EOPL one and let others do all the work and just sit back and reap the rewards themselves and the longer they leave it the more of the reward that they will get for themselves.
Remember there's only about 670 shareholders that have got a marketable parcel of shares and probably, at least, 70% of those shares are held by the top 20 and most of them by management!!

That last ann re funding raises another question or two. They were very anxious to raise that $860K, with most of it already disappearing, received another $220K, but the $1.92 million is just with "firm commitments". Has the urgency suddenly disappeared?
The whole history of Renison and Laneway, over many years, and managed by the same people has seen management outcomes of farcical proportions, massive loss of equity for ordinary shareholders, as much as 98% and the only positive outcome has been the agreement with the land owners.
Yet, management don't seem to be too perturbed!! Why???