Ann: Change in substantial holding from NAB, page-11

I think it's hard to gauge where this stands. There are a few different parties involved in the trading, and while the trend has been negative - the volume is not meaningful. MLC took an opportunity to sell for a profit when the SP spiked last week (I did the same). While the elevated copper price is good for TGS, it did not get them out of hot water. The stock was overbought and they sold a chunk of their holdings, its called basic risk management.

Stop thinking of this stock as anything but a leveraged bet on the copper price. No risk - no reward. If copper isn't up by year end, we get diluted further, and every subsequent year after. Alas copper is headed up eventually, but whether Tiger will be around for that is uncertain. I have plenty of stock, and think this is an excellent opportunity to make 500+% return, but it is far from a certainty.