wilcox coolangatta, page-30

agent ...
Re: Directors selling. They did it in one block on the 21/4 through RBS. check a chart with volume on it and you'll see a massive spike in volume for the day to over 5m. From memory either 4m or 4.5m were John & Dave's combined sell down. I know because I bought some of them. They then used those funds to convert a rack of their options most of which were at $0.50 but some of which were at $0.75. The rest of their $0.75 options were left to expire.

So done, dusted & digested by the market and the directors aren't a problem - they actually increased the company cash position by about $3.7m

Re: Large holders. I've heard rumours of Seitel still having a parcel of about 2m shares and dumping some of them (which from memory they got at about $0.10 - which would make you a bit blase about the price difference I imagine) but its all unsubstantiated so far. I scoured the recent top20s looking for them but its hard to tell with more nominees showing up.

You may be right about some lightening of holdings. Which leads me to the SPP.

Re: the SPP stock. As I've posted a couple of times... I agree with trader... I reckon we're just under 20m of stock through the overhang and I'd imagine that a % of the SPP holders are in it for a longer term and larger return (eg me). What % that is .... is anyone's guess. My guestimate though is between 30-50%.(10-17m stock of 34m)

Combine that with the permits starting to go in for EFS 3 & 4 and coolangatta and I'd have thought we've done most of the hard yards now. Even with the games the commodities traders were playing on the Mercantile Commodities Exchange last night with oil futures its my opinion that the next two weeks will see a significant difference in the share price.

My opinion is the we hit a low of $0.68 last week and we're back on the climb.