Ann: Drilling Commences at Tres Estados, page-13

Hi Jon6105 and all,

“46.25% owned by a HSBC subsidiary,”

I fairly sure that this subsidiary holding is part of the total holding of Drake investments out of New York. They appear further down the list as well in their own name I’m not sure of the reason for the separate entries, even my own SF holdings and personal holdings are separated on the list.

In fact a closer look at the top twenty list would lead one to believe that the 86.76% of the shares are actually held by the top ten holders. I call that very tightly held whilst others would say it’s a very illiquid stock, still something of a moot point as there is currently no trading in the stock.

I still find it difficult to understand how anyone could enter a stock in this speculative end of the market without doing sufficient due diligence to turn up the 2016 take-over offer, however, I guess if you bought in at the right price you will still do very well.

http://www.reuters.com/finance/stocks/BBX.AX/key-developments/article/3437381

Cheers and very best regards: Andy