Well I have got a few more ITC at 5.2c today after trading WDR for a 50% return over a week. What a great story Western Desert is and well presented with voice presentations and flagged drill srikes. They have no real income though and a couple of years to raise capital or JV their great potential gold and iron ore prospects before they will receive any real income. They will be a great company if they survive takeovers etc. They have run from 10 cent share issue to 58 to 60 cents in last 2 months. ITC have not managed so well and that is not of great concern to the directors and some share holders unless they want to trade or sell. Most do not except for a minor few who must continue to buy groceries of trade . My comparison is to show how "Tell the story" with good presentation reflects in the share price with good actual results of course. Now Historic; In 2004 Impress Eddie had 8.76% of the company John Gillion had 8.5% and Persal had 5.69% Then there was 187,366,923 shares on issue. Slide through to 2009. We have had several rights issues etc. We now have 796,186,358 shares on issue. Eddie now holds or controls 17.56% John Gillion hold 4.03% Persal hold 6.68% All have increase there holdings in various ways including buying on market. Persal appears to have had a lot to do with Eddie and other directors in the past. If you include them all those 3 control about 28% of the company. A bit more useless information. In 2004 the then exe. chairman Douglas Jendry reiterated "the next step in shareholders wealth will come from corporate move via merger or takeover probably after drilling sucess in the Cooper Basin. The Board is not against any such corporate move that benefits the shareholders." The top 20 shareholders include 7 companies or Acc's that are in the control of Eddie and John directors. I could find litle info on Zappia but they also like Persal appear to have had connections in past dealings with ITC directors. Greg Smith has acolades from brokers re past employment with Santos and ARQ. They have a plan and I suspect its getting closer to eithier reveiling or closure. 247
ITC Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
