Funds to be used used to punt on derivatives again on the...

Funds to be used used to punt on derivatives again on the market!! Total raised will be 700K if ANZ take up their part - otherwise they will only raise just over 200K if 100% of those throw in.

This is nothing but the directors testing the waters of ANZ imo - poking the bear (without shareholder approval)...u know.

Their derivatives trading record was spectacular from what I last remember but markets have changed now. And you couldn't create much splash in derivatives market with 50K-100K imo.

They really should try and focus on creating a viable business direction and work with ANZ - theyre majority shareholder in the darn thing.

Reminds me of a story I read along time ago..

A Father and a son were walking along a pebbled path when a old Witch suddenly appeared in front of them and said 'this is my path and you did not ask me if you can walk it. You will now have to pay my price'

The Father not knowing what to do dare not test her strength of power so instead asked the Witch 'what is your price?'

The Witch then said 'I have been powerful for a oh so long and I have become ugly and alone' Then looking at the son the Witch said 'My price is for you young man, to marry me and spend the rest of your days with me so I can be happy OR I will take away your Fathers ability to walk anywhere again'

The son was horrified and did not know what he should choose - either save himself or save his dad. 'All we did was walk on path dear Witch' the son said.

The Witch the replied 'I will make it easy for you to decide'. She turned around, crouched her crooked back over her flying stick and picked up two pebbles'

She then said to the son 'if you choose the white pebble I will let you and your Father go free and unharmed. But if you choose the black pebble - you will be my husband until days end'

But the son noticed when the Witch bent over to pick up the pebbles - she picked up two black pebbles - there was no way out for him.

Thinking quick he chose a pebble - then accidentally dropped it on the pebble path. 'I'm sorry dear Witch, I dropped your pebble on the pebble path and it is forever lost. If we can see what pebble you are holding, we can then deduct what pebble I chose'

'Aargh' the witch said 'you and your Father will go free and unharmed as promised' and the Witch suddenly disappeared.

The End

Hence, the LSL directors could turn the ANZ holding and relationship into a positive imo. This is not the way to do it imo

Cheers,
The Sparkler