Ann: Change of Director's Interest Notice , page-12

Fluffy,

The options are due to be excercised very soon - no underwriter as of yet - who wants them? I think we'll finally find out what is happening with CAZ within a few weeks as the absence of an underwriter is very very odd IMO.

I know we have discussed the issue of having the options underwritten before on the thread. I don't think the options need to be underwritten as they are so in the money. Unless the share price dips below 20c, they are safely in the bag. Remember a company can always do a placement to Nathan if it needs money. I don't think he's too fussed if the oppies are or are not exercised, there will always be other avenues of funding available.

CAZ is Macmahon's baby and he has a truckload of shares (over 12m of them) - this is why it is not being diluted - he wants to create as much shareholder wealth as possible (for his own sake). I feel patience will pay as my experience and instinct tells me that alot is going on underwater atm IMO.

Absolutely.

He'll have to stop buying 5 days before the quarterly which is now.

Yes. But I don't want to build any false expectations from the quarterly. I expect no news to be on the safe side. There is no reason why news of port allocation should coincide with the quarterly. Some other news should be good.