good news bad news, page-35

kev

there has been some big moves on the share registry and the current top 20 looks nothing like the top 20 of 2010..

apart from CITIC who have remained relatively static, there are big movers shuffling the deck on a regular basis and it is fairly difficult to get a read on what's happening..

in effect, the stability of Talbots static 15% has been replaced by 10%-15% of shifting sands whose interests are certainly not aligned with ours..

they are below substantial holder threshold so are not required to report to market.. retail holders are completely at their mercy and it is not surprising that posters get frustrated with the seemingly irrational behaviour of their stock..

More aligned with our interests are CITIC, they have learned plenty through their involvement in Sino Iron(disaster) and McCarthur Coal(massive win) and now find themselves as first movers in a potentially lucrative silver play...their original investment in SNU(became IVR) was not about silver, that's for sure..

Roger Marshall, who is now a director of IVR, was there at McArthur Coal and was also involved with CITIC.. he knows how the game works and would have made squillions when CITIC accepted Peabodys takeover after CITIC had rebuffed them numerous times..

In other words, CITIC will not do a Talbot and offload.. CITIC will be there right till the end and will want to extract the most from their investment.. this IMHO is aligned with retail shareholders interests much more than the daily grind of the market..