Well, here we have it: the end result of director Fitzgerald's...

Well, here we have it: the end result of director Fitzgerald's dallaince with the boys at Matsa.

So what has he achieved for the long-suffering shareholders of the company in the course of this?

1. The remaining value in the company's shares has been almost completely destroyed.

2. The company's 100% owned project and major asset has been reduced to an eventual 20% holding, with no certainty of any production or cashflow.

4. The company has been further impoverished by the negotiation of and eventual giving away of a $100,000 as a 'break fee' to his friends at Matsa.

5. The company is now left with a lame board and the burden of ongoing overheads.

It is as though in the rough seas of the recent markets, an untethered canon has come loose from its mountings, gone thundering back and forth across the deck, killed all the good men that tried to stop it, and then gone on to wreck the ship. What an awful shame. And what an unnecessary loss for us, the shareholders.

One wonders how long a director with this record of negative 'achievement' can remain on the board.








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