im waiting, page-20

re: im waiting...maybe I'm still not sure what I am doing....I have both fully paids and CFD exposure. The way I am looking at it right now the cost/opportunity cost of holding for say 12 weeks would be around 4 cents per share. That is not much of a risk for me to take on a higher bid emerging.

There is some risk of conditions precedent not being met, but I think that is minimal. So I intend at this stage to continue to sit pat. So far around 130m shares have changed hands (<20%)...I reason that TLW is likely to continue to accumulate at the bid price and in the event of a counter bid then they are in the strongest position. I expect that a reasonable number of the traded stock has gone into speculators hands. Certainly there are still plenty of holders, including instos, so I am in good company.

I think if TLW's price goes up/POO goes up, or there is success at the next Mauri wildcat then the value could go higher. I may reduce just to get the risk down a bit.

Regards
DF