Ann: Encouraging Drill Results from Trenggalek Go, page-9

re: Ann: Encouraging Drill Results from Treng... Doesnt ANZ have an investors arm. Surely they could organise a sale of stock to some of their clients. Seems very silly to me to sell 50mill of stock on market if they have indeed committed to recouping only 1/6th of their debt.

ANZ would no longer (at a guess) have close ties to the company - the relationship would have ended with the debt relief with the "sale" of the Cibaliung to Antam - where ANZ negotiated the debt for asset swap (hence why Arc no longer has a stake in that mine).

The shares that ANZ have are held completely separately to their retail share environment - ETrade runs effectively still as a separate organisation within the confines of the bank.

ANZ would need to do a very hard sell (and it is just selling) to dump the shares they have - and they are unlikely to match the profile of shares that ANZ would normally suggest to its clients.

Much simpler to let the market do the talking - as I said, it looks like 5 cents is their number - I would not think that they would continue to sell the stock down lower than that and they have only been active since the stock edged back over 5 cents. The have been sitting on it patiently for quite some time and I don't think they will be looking to rush it through now.