be careful, page-13

Buffet

Three comments in reply:

Firstly ... You answer your own query regarding Luke Atkins' sale of options: "Maybe someone was being set up with cheap options" .... That is the case, as they were transferred off-market for 1 cent each, when in fact they were trading at 30 cents at the time on-market.

In so doing you actually answer your other question: "If I had a huge future winner in BAU why would I sell 4,000,000 BAUO." Of course its obvious that besides the small amount sold on-market, this was no sale, but an arranged transfer to a friendly entity. Maybe his mum!!! Who the hell, cares, I dont!

Secondly:
Please get it in persective, he still had over 24 million units after the transfer!!!
Luke Atkins
Number acquired:
12,500 listed options (BAUO)
8,508,334 (BAUO) (Tailrain Pty Ltd)
Number disposed:
325,511 listed options (BAUO) (Big Fish Nominees Pty Ltd)
TOTAL NO OF UNITS HELD after change: 28,236,990
Then after the disposal of 4,000,000 on May 20,
TOTAL NO OF UNITS HELD after change: 24,236,990

Thirdly: Please dont take this as an attack on you, this is a general rave from me. But it PEEVES me off no end when people rant on when a director disposes of some shares. (I want to use stronger words, but I would get moderated). It can be now, or in 10 years time, but they are expected NEVER to sell a share. You and I can sell, dispose, transfer, or generally do what we want in trading the stuffing out of the thing, but heaven help a director if he sells ONE share. After you and I sell and move on, the NEXT bunch of small-minded shareholders will demand the same thing!! How ridiculously hypocritical.

As an example in point, have a close look at the current market darling MAK: On January 9, the you-beaut announcement comes out regarding Wonarah phosphate. The share price rockets up, then 2 weeks later on Jan 24, Directo Edward John Ellyard disposes 700,000 shares on-market for the value of $405,890.20. This was 10% of his holdings.

Again, a month later on Feb 28, Director George Arthur Savell disposes of 39,500 Ordinary Shares for $47,857.71

Well weren't all the dogs on Hotcopper baying into the wind!! These were some of the comments:
"Well that stinks,"
"just a joke... "
"I HATE directors selling"
"you cant on one hand promote the company and at the same time flog your own shares"
"For whatever reason it shows he doesn’t believe in the companys share price going higher"
"very dissapointing for a director, devastated a few true believers"
"Director sells, once this happens its goodnight"
"Thats it, I am out!"

Interesting was Andrew Drummond's BULK reply to DOZENS(sic) of angry shareholder emails:

Hi All,

Please see an answer to a similar query from a shareholder last week. I am in Melbourne promoting at present, as I was doing last week. While it can be argued that it is never a good time for a director to sell a share, please realize that directors are investors also and need to pay bills too. Would you prefer that I did a roadshow, got the price up more and THEN a director sold? Please note that I have not had a single enquiry about the sale from any broker, institution or journalist over the last week, all of whom are very enthused about the Company.

Andrew Drummond
Managing Director
MINEMAKERS LIMITED

Interesting, NOT ONE enquiry from a "broker, institution or journalist" ... yet DOZENS from these pathetic, small-minded investors ... NOT ONE OF WHOM ARE PROBABLY STILL HOLDING!!! Well I am stoked, because look at MAK today, and where it will keep going ... let them rot!

Sorry mate .. no offense or attack on you personally ... but this is one of my pet hates. If it holds you back from buying BAU, then thats fine, I am personally happy that you are not in because I would prefer it if we didnt have that type of mentality desribed above on the register. I know it is too much to ask, because there are many more like you. Hopefully most have jumped ship, & BAU can now get on with doing what I know it will do.

Cheers for now.