good night and good luck, page-10

Scorpion,

You do like to favour all those conspiracy theories.

The simple explanation is usually the correct one.

1.You have asked why the shareprice dropped.

Holders had been waiting for 4 years to see the updated JORC.Their expectations had been raised over that time, such that the majority expected to see much better numbers in that JORC. The numbers didnt justify the $10 mark promoted by many and disappointed holders sold. When the weight of sellers is far larger than the ready buyers, prices fall.

Your 1 million tonnes of copper is made up of much low grade ore that will take 85 years to mine with a 3 mtpa plant. The sellers were not interested in all that low grade stuff.

Many holders would love to believe in some conspiracy as for some reason they seem to feel better about the drop.

2. Broker nominee accounts.

I have observed movements in these on registries in the past.They always fall back to zero once activity settles. They do not indicate any sneaky tactics on behalf of anyone.

As you have pointed out Nev, for a fee people can buy access to the registry. As you are so concerned about those Broker accounts it would be in your interest to access the registry again and see where they are all at.

Those broker settlement accounts hold shares that have been bought and sold by ordinary clients. Not all get cleared immediately and especially when things are a bit hectic. from what I have seen in the past, these accounts clear back to zero within a few days. To turn them into a conspiracy is an exercise in clutching at straws.

I seem to recall many claims of the JORC being delayed so that a low number would not attract that lowball predatory offer. Well the low number JORC came out in the end, but where is that predator?

Just 7 million shares out of the 100 million traded would take a holder from zero to over 5%. For an existing holder, a number less than that would have taken them over 5%.

No substantial holder notice has been issued.

Any existing holder over 5% that moved by 1% being about 1.4 million shares, should have posted an updated substantial holder notice. That hasnt happened.

Now if this desperado was out there dying for these shares, surely they would have taken a decent lick out of the 100 million traded? And why wouldnt they pick them up at these bargain basement prices that you say exist now?

I say forget conspiracy and concentrate on reality.