Ann: Change of Director's Interest Notice , page-6

My take is that he thinks that CAZ is a bargain. Throwing this amount of skin into the game can only increase shareholder's confidence and as I've said for some time now, that I think Parker Range is up for sale.

The options are due to be excercised very soon - no underwriter as of yet - who wants them? I think we'll finally find out what is happening with CAZ within a few weeks as the absence of an underwriter is very very odd IMO.

CAZ is Macmahon's baby and he has a truckload of shares (over 12m of them) - this is why it is not being diluted - he wants to create as much shareholder wealth as possible (for his own sake). I feel patience will pay as my experience and instinct tells me that alot is going on underwater atm IMO.

He'll have to stop buying 5 days before the quarterly which is now.

* CAZ is not all about Parker Range and port approval. I'm prepared to expect the unexpected.