landowner's arrangement, page-49

h2k

I did not say they had 68 mil shares in 2012 or 2011. What I said was this.....

"According to the AGM papers they received cash (37%) and shares (63% or 68 mil shares) of the $27mil price. The document also noted "The Summit shareholders, a PNG based family, are expected to become long term Indochine shareholders." I understand Siew Hong Koh was a director. He is shown in the 2011 AR having 34.6mil shares (8.47%), and in the 2012 he appears to have sold 20-odd million shares. Not sure how many he holds now, but that's not exactly "long-term"."

.....The number of shares is irrelevant. What is relevant is the words “long term holder”.....

IDC suggested Summit/SHK would be a "long term" holder

Summit/SHK were the Mt Kare vendors

During 2011 and 2012 they sold 20mil of their holdings

The sp of IDC in 2011 peaked at 30-odd cents - it’s now below 5 cents

That sell down suggests to me they are not interested in being a longer term holder

If, as the previous owner, they had the confidence Mt Kare would become the next Porgera, you would assume they would be still holding - holding out for the $1.60-odd spruiked by some IDC sp would reach.

Did they sell because they thought 30-odd cents was as good as it's going to get?

Are you with me now, h2k