Ann: Change of Director's Interest Notice-Priyank Thapliyal, page-3

I think he gets 1% of all monies issued as dividend as a bonus so I guess he is using that money to fund at least some of his purchases.

The sp is being kept low IMO because most of the ore is destined for China where it is used largely to produce manganese alloy. Many of the alloy companies in China are limited to the amount of power they can use at present hence they use less manganese ore. This results of this unusual effect of lower ore prices but higher alloy prices.

In a commodity boom that will last years IMO this effect will not last for ever and the alloy companies are being urged to upgrade to more modern and efficient furnaces over the next few years

I guess the CEO thinks any sp below 30c is a good long term buy and I happen to agree with him. I have always viewed a low sp for this company as a good thing, better to get 3.4 lots of dividend for each dollar invested than 2 lots if the sp was 50c.

I hold these for the income and add from time to time when the sp looks good value.