cis, page-59

Cahuna,

No "mail", I think I just read markets a little differently. There is always a reason for underperformance and now we know why. The institutions would not have had a reason to buy up RFE on the good news whilst this "perceived" overhang of the last half of Q's line was in the market. Regardless of whether the line of shares was being offered around by a broker or not, it was the "perceived" overhang that kept the price from moving on good news. Now we know the "perception" was a reality and the line has now been cleared. I am told that there were a multiple of local and overseas insto's who participated on the buy side and that some are entering into the RFE story for the first time. This is a very positive development for the company. It will further institutionalise the register and ultimately lead to greater volume and more broker coverage.

Games are over (hopefully) and the stock should re-rate on positive news flow.