although the dilution factors in these deals really jack me off...

although the dilution factors in these deals really jack me off the problem (other than seemingly brain dead management) is URL has no cash

there is not much chance of URL raising significant debt and (if the existing shareholder base shares my sentiment) i dont think a rights issue would reap sufficient interest

the only chance URL has is to finally manage to exploit what is in my opinion a top class resource - it needs a good chunk of cash to have any chance. Although in the process of getting this cash we (much maligned & aggravated) shareholders get heavily diluted, i still think a smaller piece of somehting with a chance is better than a bigger piece of the current debacle

a number of the people tipping in the cash have reasonable track records in the industry & they surely cant be much worse than our current mob - if they can't do something with $30M and good resources then we are simply in the same position as we are now and can finally write it off and try to forget about the whole mess

cheers

t