Ann: Top 20 securityholders, page-28

Hi Matt,

Fortunantly it wasn't me at No 7 on the list of top 20 holders, it was JP Morgan who sold out. I hate to think what my capital loss would have been had it been me at No 7.

Only JP Morgan would know why they sold out. Maybe they reassessed their position from a negative perspective and with the up coming consolidation saw the price going backwards from 8.0c given MNC needs to raise a lot more cash (and at what price) to get any decent amount of drilling done. Gather 2400m of drilling won't give MNC a JORC resource. I would have expected that JPM had discussions with MNC before selling out. If they did, mabe wern't happy with the timeline and short to mid term prospects and these didn't meet their investment objectives and decided to put their funds elsewhere. Maybe they just got sick and tired of waiting for the elusive pot of gold thats always promised but never seems to be delivered.