re: Ann: Requisition for a General Meeting of... Ormond,...

re: Ann: Requisition for a General Meeting of... Ormond,

Paraphrasing your quote from Warren Buffett, I wouldn't worry about the price for now, I would look at the value that you have got!

Since listing, the present directors and management have proved up a JORC gold resource, re-established an operating plant, acquired additional resources in the surrounding area, and achieved everything that they said they would in the company prospectus. They have created that value for us, the shareholders.

The current low share price is simply a reflection of the recent short-term cost blow out at the top of the boom, the softer gold price, and temporarily risk-averse capital markets. Look at all the other smaller gold producers and developers. They are all in the same boat. I mean, look at Silver Lake and Regis: even those lower cost producers have been hammered! Look at Tanami, a much higher cost producer: it is dead in the water!!

18 months from now, in a very different market, with operating costs back to something approaching sanity, Bulletin will have this mine in production, and the value of these assets will be reflected in its share price once again.

That is why we as shareholders do not want to risk having these assets stripped out of the company by others, who might want all of that value for themselves alone.






(Do not act on anything I say. I am not a financial adviser and this is not financial advice)