Ann: Change in substantial holding , page-5

Thanks Shab

Although puzzling I don't think it's to much to worry about, however if they start selling on market then that's a concern.

Re; todays Ann, I do agree that it was very slim on detail, perhaps due to the sensitivity of negotiations taking place with a potential target, but being the perpetual optimist that I am, the way i read it is that management have possibly got multi targets and are spoilt for choice and as there indecision lingers the value increases especially if the target is onshore due to the falling A$ and the deal bing in US$ so Yatchy may be correct re; possible KZL assets.

I would also add that the falling A$ also benefits Glencore, in that the lower the $ falls then the bigger slice they get out of the acquisition deal.

Shab if possible could you please share your response or email me