Drillfix
Unfortunately, your analysis of movements in major shareholdings is flawed and misleading. If you compare holdings as at 15 Feb 07 and 12 June 07 you will find the following results:
Jungle Creek - No change
G Santalucia - sold 300,000
Citicorp Nominees - sold 1,506,361
Northmead Holdings - bought 20100
ANZ Nominees - bought 2,527,519
Theresa Incoronata - No change
Mr Peter John Garrod - sold 1,370,000
SG Australia - No change
HSBC Custody Nominees - bought 1,463,535
Frank Cannavo - sold 1,757,000
Mr A Cannavo & F Cannavo - bought 48,000
Tricom Nominees - sold 2,393,541
So major shareholders actually sold a net amount of 3,267,748 shares since February 07.
What's more disturbing for me is that Frank Cannavo, whom I know is good friends with members of the board sold 1,757,000 shares (He however still holds 1,387,925 as a joint holding with Anthony Cannavo). Also note Tricom nominees sold 2,393,541 shares.
Not trying to downramp. Just providing facts to everyone who's in the same position as me. I unfortunately continue to hold and am still deciding whether to dump in more money to exercise my options or to just sell my options at a huge loss. Learnt my lesson. Never trust anyone no matter how reliable you think the source may be.
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