Ann: Change in substantial holding, page-7

BR do what they have to do, unfortunately.

The BR fund that was initially invested in CKA was subsequently shut down - this is because of any number of reasons but the bottom line is that investors into the specific fund that held the CKA stock now want to redeem their money. What would have happened (I am guessing) is that BR changed its view on resources and probably decided to close a number of their small "exotic" hedge funds (or whatever) that had selectively bought into a broad number of different projects around the globe. They would have "closed" the funds and announced to investors that they would liquidate the holdings therein and progressively return capital to clients. Now....that event (wind down the fund) happened 2 years ago in the case of the fund holding CKA stock.

What has obviously now happened (again - only in my opinion) is that the BR people responsible for managing the wind down of the fund have been asked to "wrap it up"

Where once the fund managers probably had a great deal of discretion on the timing and aggressiveness (or otherwise) of the sell down...this discretion has probably now been withdrawn by those higher up teh food cahin and the directive is now "its gone on too long, the sector has continued to decline so just liquidate it, and get it finalised" (so...besides just CKA, there are probably other stocks in Aus and abroad suffering under the same weight of selling pressure from BR).

If this all sounds terribly bureaucratic to anyone, you are probably right! Its just a large corporation headquartered half the globe away ticking off some boxes & agenda items.

I tend to agree with Von, that they have managed it hopelessly, and also agree that their selling is not a reflection on the BBM project. The point about manipulation also opens a can of worms - no doubt. I mean, imagine, if someone else got wind of BRs forced liquidation of stock (as an example) and decided to undertake their own campaign of short selling.....

And CKA shareholders all caught in the cross fire.

...and lets not forget that CKA management would - at a minimum - be aware (or would have been made aware at some point) of this large seller's activities. What have they been doing about it - in the interests of preserving shareholder value? They need to to actively canvass interest so they also can try and find a buyer for BRs remaining stake. That's what many other good management teams do.