Ann: Indonesian Project Update, page-238

I'm sorry - I don't quite follow you? I'm not suggesting Cancun are going to dump 250mil shares. Cancun was holding 150mil shares @ unknown average prior to the CR but if we go off market value of 1.2 then they were worth $1.8mil. They then added 105mil shares @ 1.43c, being $1.5mil. When assessing the risk/benefit of investing the $1.5mil at placement they would have considered their current $1.8mil investment, and how participation in the CR would impact that investment. Benefits could include averaging down, supporting that initial investment by providing TV2 access to non toxic capital, and placing a floor under the share price for the time being. Investors big or small, often throw good money after bad, or just get it plain wrong - geez look at the recent GSW CR - they reverse 10 bagged a few lazy mil in the space of a couple of months. Other posters have figured out who Cancun is - director is some bloke from Perth who is also chairman of a cricket club. Have a look through the previous posts - it's all there. I would wager there is almost certainly also some connection to Nick.