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

Noticed that ARA have sold their car parking assets.

$75m hits them in January.

I hope they don't make a takeover bid off the back of their current 30% while the price is so low.

With the copper price back to $3.50 the June impairment is no longer appropriate and NTA based on future cash flow would be back in the $1.10 range pre-bonds. Thats close to 40c post bond issue .

If the $40m profits that were mooted by brokers in Feb happen which is now more than likely the share price will jump and HGO will be readmitted to the indices which would force institutions to buy and force the price up potentially well above NTA

Be nice not to be forced out of that opportunity by a bunch of sheep accepting a slight premium to the current 4 cents.

At least given their enthusiasm for shortfall subscriptions the directors might have enough self interest to bat straight back any low ball proposals.

There are also some pretty big holders who I guess won't be easily bought out at anything close to todays price.