Ann: Change of Director's Interest Notice, page-51

Brett,

I have spent a bit of time at this web page going through the shorts numbers...
http://www.asic.gov.au/asic/asic.nsf/byheadline/Short position reports table?openDocument

In January 2013, CDU short positions were about 5m. As the price rose the number of shorts declined. However once the sell off began the shorts increased. However by the middle of June, the number of shorts were 4.9m, just as CDU started making new lows. That was the point for the acceleration of new shorts. By the bottom, the shorts had increased to over 7m. The short position now, of over 8.5m is higher than before and during last years selloff. It seems it is more a function of the number of shares on issue and the low price, plus missing timelines etc.
M+G didn't start to sell until after CDU made a placement to OW, perhaps they were not expecting more shares to be issued, diluting their holding. As of the 4th June 2013 substantial holder announcement, M+G had actually increased their holding. Then CDU issued more shares to OW, THEN M+G sold their holdings.
Once M+Gs holding fell below 5%, they didn't have to notify the market how many, or when they sold shares, perhaps they still have some with the holding companies.

The whole conspiracy aspect holding the SP down, just doesn't add up when compared to the obvious. The number of shares on issue has increased greatly since May 2013. The timelines given by the company are behind schedule, they have continued to need more money without the 'sales' actually occurring within most peoples understanding of the word ''soon''. The price will continue to go down until transparency arrives in the information given by the company (ie actual forecast dates for something happening, then keeping them).
Leaving the investing public in the dark is not a good way to keep the SP high. The current plan, ie sending some ore to Glencore, is totally outside any known plan, so we really are left in the dark about why. Just like when the plant will be finished, or when the new ore-sorter will be installed and fully operational to create NCu DSO. To me no answers to those questions probably means longer than shorter in time, so where does the money come from to pay for it all?
The only answer if they have used the loan money is a cap raise. That seems to be what the market and the current shorters think as well!!