Ann: Ceasing to be a substantial holder , page-3

Zia, looking at the ASX notifications and the sales volumes around those periods it seems that Merril Lynch accumulated 10.2m shares before the FS in late November then sold 8.2 mil.

This they did again, it seems, accumulating in early December
as the sp dropped and selling out recently (look at the volumes).

So it looks that they are buying and selling to accumulate and I figure they have ~5.5 million shares as pure profit and are waiting for the Spike after the mine's ann.

Really I think that is a great indictment of the possibly of the market reaction when there's good company news. BOA is no amateur at this and would be picking the winners....us.

CRC, it seems, is not alone