Celtic Resources - Mining The Mountain

chevy,

You're a rational guy and what you say makes sense.....if the parties who are causing this trouble (and I suspect you are right that the ties between them are closer than they'd have you believe) actually want to sort it out. But if they think they can blag their way through and that the longer this goes on, the harder it will be to unwind, then they have the means to do so. Here in the UK, lawyers always warn clients against litigation - however strong their case - on the grounds that it is time-consuming, expensive and the outcome is uncertain. You can multiply that to the power of 10 for the FSU and BVI. Look at Sibir/Sibneft, still trailing through the courts 2 years after the dilution while Roman Abramovitch, clearly involved in some way, is feted by UK society and allowed to pick up trophy assets like Chelsea FC. He doesn't look to me like a man under pressure to settle! I fear the same path will be followed by CER/Polyus and our Russian friends are just as likely to be chuckling over their turkey as much as having "serious discussions". They may be embarrassed into backtracking - I shall certainly do my best and would urge other shreholders to do the same - but there's not much evidence of that happening at higher levels and I don't really understand why CER management went out of their way to be so polite about Polyus when they first appeared out of the blue and talked of the good relationship they had and the constructive approach (the constructive approach of throwing all their representatives off the SVMC board and voting through dilutive equity loan issues in the face of legal action!).

I'm afraid I don't share your hope that this will be resolved sooner rather than later and what really hacks me off is that it undermines all the reasons I bought in - proven assets and the potential to generate significant production within a short time, coinciding with a raging bull market in the price of gold, none of which is currently being expressed in the sp.

Regards, Ian