Ok these are the top 5:Holder nameSecurities% of issuedPosLQ...

Ok these are the top 5:

Holder name	Securities	% of issued	Pos
LQ SUPER PL	17,599,631	8.22%	1
SEREC PL	14,500,000	6.78%	2
FARM 1342 PL	14,227,764	6.65%	3
PITT STREET ABSOLUTE RETU	11,217,447	5.24%	4
MINING INV LTD	6,364,162	2.97%	5

Ok the big mover has been LQ Super PL moving from a holding of 11,182,962 declared on 21 March 2011 when it became a substantial holder to 17,599,631, an increase of 6,416,669 shares. We really need to see their Form 604 to see how much they have added through the placement.

Serec PL have reduced their holding from 16,227,764 to 14,500,000. Their Form 604 does not explain how the holding was reduced but I am guessing it is on market selling.

Farm 1342 PL have not changed their holding.

Pitt Street Absolute have increased their holding from 9,952,447 to 11,217,447, primarily as a result of buying on market, in some cases below the placement price of 15c. Lucky them.

All in all, a mixed bag. But would be interested in knowing the connection between LQ Super Pty Ltd and CEL. As far as Google reveals, LQ Super Pty Ltd's representative Fletcher Quinn is a one-time director and Chairman of CGG (Citadel Resources Group).