You're right Deluxe73. The IB A/c has in fact increased from 33,059,919 to 49,039,919. His IBT has dropped from 26,500,00 to 22,500,000, but the CTI one didn't register in the Top 20.
So, even if they are not still held, he has still increased his holding since 8 July 2014 either by 6 mill or 12 mill, depending on the CTI holding and that was against very strong selling on the market !!!!
I don't mind being found to be wrong when I am wrong, especially with the Bronze holding, which restores some of the confidence that I was losing when I first noted that "drop".
To me, that is one of the very few "confidence boosters" that shareholders have had for months. Let's hope that at least he does know what he is doing. He doesn't seem to be the type to be making those "foolish" "investments" that we read about yesterday.
But, as I have said several times now, I'm still battling to see how they are going to find finance to cover the amount required to have the testing of A#5 re-commenced (absolutely vital!!!) within the constraints imposed by a SP of, between .002 and .003, and to comply within S606 of the Corporations Act. We must be talking over $5 million (unless LAR can be cajoled into some side "deal") and with the SP at these levels, even those 500 million would only raise a shade over $1 million. Useless, and until any real funding is obtained will be needed just to offset those loan repayments.
But, when you see the actual logistics of this asset and where we were when this all started to unfold, all of those past numbers in the Financial Statements in the AR can be turned around very quickly and profitably with really quite minimum effort just with A#4 and A#5 both in production and then getting something out of the 2 Tortugas wells. So, it's certainly far from a hopeless case when trying to sell to funders.
I'm just banking that PL is as "good" as people make him out to be. Can't be much longer to wait.
Frankly, all I'm looking for is the re-commencement of testing of A#5 and getting that into production, which, also, shouldn't take too long and then I'll look at the devil in the detail to see how long I'm going to hang around. Won't take much to see me out, nor, too much to see me hold, depending on that detail!!
A watershed moment for all of us.
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