For us CAP shareholders, the information that we receive about...

For us CAP shareholders, the information that we receive about what is in the ground at Hawson's keeps on getting better and better.

With CAP, it is not the ground that worries me, it is the bank balance and what is going on in the board room behind close doors. The troubles in the boardroom are a large contributor to our current share price (IMO).

Our largest shareholder and our Board of Directors (BOD) are basically at war with each other. Our 2nd largest shareholder has shown no real interest in the company (in public) and both our largest shareholders did not fully partcipate in the latest capital raising, they accepted having their stake in CAP diluted down.

Both the CAP BOD & Silvergate criticise each other and partially blame each other for the current poor shareprice. Both sides (IMO) throw mud but neither side gives us shareholders enough information so that we can use our own intelligence to make up our own minds. For example, this "deal" that Silvergate presented with CAP BOD with regarding an offtake agreement with a Chinese Steel Mill.

Both sides criticise each other about why the deal was not done BUT SHAREHOLDERS HAVE NO IDEA WHAT THE DEAL ENTAILED. Hence, how can we conclude that the CAP BOD made a critical error in not accepting the deal (as Silvergate claim) or did Silvergate put on the table a low ball, crap deal and the CAP BOD correctly said no (as the CAP BOD claim). It is a " he said, she said" situation and I am over it.

Give us shareholders some cold hard facts and let us decide who is best placed to run OUR company, enough of the airy fairy rubbish.

Our last capital raising was in Dec last year, the CR was completed at 15.5c. We are now at 6.0c

The capital raising was not underwritten and it was not well supported by shareholders. At current burn rates, we probably have enough cash in the bank to keep the company going for another 18-24 months....... and then what?? another capital raising??? Who would participate??? will the share price still be 6.0c?? I can say that I would not.

With our current overhead structure, I am worried that our company may not be around in 24 months.

Now that we are focusing on the Hawson's project only, we need to adjust our expenditure to match our market cap, our focus and what we can afford.

I am not a big fan of Silvergates actions regarding CAP yet I can't escape the fact that they have invested more into CAP and Hawsons than anybody else. For every cent that the CAP shareprice declines, I know how much I lose, it must be much more painful for them.

So Silvergate & CAP BOD, please release the details on the proposed deal with the Chinese Steel mill and let us shareholders judge who made the right call.

Doing this will seperate the men from the boys (IMO).