There is understandably a lot of discussionaround the nature of the condition of MED at the moment. As I said the otherday, the company is in a serious condition, but not dead. It is true that onbalance, the media does tend to be attracted to stories involving conflict, theASIC, ASX plus former contractor law suit is one that is like fish blood to apack of sharks. Irresistible. And Joe has history good and bad.. So it isfodder.
That being said good news is better than bad,and in the last few months, shareholders have copped it pretty hard with theabsence of good news. The strategy here should be to get out of this situationas quickly as possible and start giving some good news, even if it is the end ofthe suspension.
Gutnick has asked for patience and sadly, Ithink for most of us shareholders, that’s all we can do. The mine is not dead,there is still significant cash in the bank. They need to get the new boardmembers ASAP, get relisted and start rebuilding the confidence in the company. Because as far as the stockmarket is concerned confidence is everything. Ifthey do this, 6 months down the track all these headlines will be forgotten. Thatis where the board should focus their attention. The way Gutnick plays the ASX andmedia in the coming few months will be critical. He has been given his ridinginstructions from the ASX, now all he has to do is implement them. He has said he is going to. Its not over till its over… And it aint over…...
