JLA>>>The Directors are betraying the Shareholders

  1. 711 Posts.
    They did not find any gold until now.

    They have already sold a profitable business of Unicard.

    Now they are selling another profitable company known as Smart Silicon System which they claim is cash positive.

    If you talk to them they will tell you that they have lost money. In fact if they lost money on these companies they have lost shareholders money. They have lost nothing.

    Why they have bought these business in the first place?

    Now the directors are looking for a buyer. Why?

    Are these above companies ever existed?

    Where are these companies?

    What they have done with the money the directors have collected from the public with the IPO @ 52 cents a share?

    And what they will do with the money when they will sell these profitable businesses.

    Please explain.

    oh,boy

    JULIA CORPORATION LIMITED 2002-07-03 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    1. GOLD MINING ACTIVITIES

    BRANDY HILL PROJECT (JULIA 100%)

    As at 30th June a total of approximately 85,000 tonnes of lateritic
    and saprolitic gold ores had been mined and trucked to the Gullewa
    plant operated by Menzies Gold NL for which Julia receives a royalty.
    A further maximum 15,000 tonnes will be trucked later in the year.
    Mining has been suspended pending a possible joint venture
    arrangement which would favour more drilling to build up additional
    reserves.

    MENZIES-LADY IRENE PROJECT (JULIA 100%)

    The Notice of Intent for the commencement of mining at Menzies has
    been accepted by DOME. Mining equipment has commenced arriving on
    site for site preparation works and full scale mining will commence
    next week. The deposit is scheduled to be mined out by October
    providing Julia with an important short term cash flow anticipated to
    be in excess of $1 million. Further exploration within the Mining
    Lease will commence during mining.

    2. EXPLORATION

    YARRALOOLA - ONSLOW (JULIA 90%)

    A Moving Loop EM survey was completed at the Yarraloola VMS base
    metal prospect. Stratabound possible conductive bodies in association
    with magnetic highs provide encouraging new drill targets at this
    prospect. These targets are on strike several kilometres north of the
    sub-economic Yarraloola Copper deposit.

    DINGO RANGE (JULIA 100%)

    The Company acquired 100% ownership of this property and has recently
    advertised in a Canadian mining paper for possible North American
    interest in securing a major joint venture partner. It is planned to
    implement EM geophysical ground surveys during the field season

    3. SMART SILICON SYSTEMS PTY LTD ("SSS")

    Julia has signed a Memorandum of Understanding ("MOU") with an
    offshore company that may lead to a sale of SSS. The MOU had
    envisaged completing a sale by 30th June, however complexities in the
    transaction have caused a delay in finalising legal documents which
    are currently being prepared but are unlikely to be finalised for
    several weeks. Julia has granted an extension to the MOU until 29th
    July.

    In the meantime, SSS continues to make new marketing inroads with its
    smart card readers including a recent order for in excess of 3,000
    readers to Australia Post and has traded positively over the last two
    months. Staff numbers have been reduced to a core operating unit of
    five and the company holds a significant inventory of electronic
    components.

    I Veitch
    COMPANY SECRETARY
 
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