ceo matthew hogan in the uk, page-27

Ocean Equities is a waste of time
SNIP
Really! They produced a large part of the funding for the company by finding a major investor

have they provided buying support in the past?
SNIP
We don't know - perhaps you should ask yourself who has been buying over the last month - someone has unloaded in a big way (Yanks???) which required considerable buying on the other side. Hopefully that is ending and we will see a nice bounce.

have they got us any where to date?
SNIP
Yes, excellent financing and consistent follow through. If others join in well and good - but I would not go around knocking a top class research firm who consistently supports the company.

are they going to help us sort out infrastructure?
SNIP
Of course not - any more than any other broker/investment banker - get real

are they going to help progress the project in anyway?
SNIP
If they find new money - Yes

are they going to buy any iron ore off us?
SNIP
See above - of curse not - pls name an Australian broking house wanting to take physical delivery of IO

are they going to take over UMC?
SNIP
NO - stupid question - name a broking house or banker who would ...

I cant see how this trip to London is helpful, the answer to all those questions is a big NO
SNIP
How do you know? Have you bugged them????

I am sure OE are sick to death of seeing the same presentation as we are
SNIP
I am sure OE are delighted at the continued upgrading of the resource which vindicates their support over what is now several years. If you are sick of this excellent story then it's easy - sell and find other things to play with.

I have watched all the moaning and, like any shareholder, do not enjoy seeing our company's shares beaten up - but there can be many reasons for the seller quitting which have NOTHING to do with the company - such as forced liquidations, collapsing East European economies impacting globally etc etc. My money is on the US hedge fund boys being forced out - a great buying opportunity for those with spare cash (not too many sadly). Meanwhile stop moaning or quit - the management have a lot on their plate - such as trying to work out what-is-what as the new BHP/Rio scene unfolds. They certainly do not have time to concern themselves with the day-to-day vagaries of the stock market. The company has a great asset (yes, that boring old story again) and a management team which is delivering an ever increasingly valuable asset and who have a greater interest than any HotCopperite in seeing the shares go up. End of lesson! See you Broome at the end of the month for Matso's ginger beer as that $2.00 seems to be a little elusive for the time being so champagne if off.