plenty of demand, page-16

Hi All
Have been busy working tonight and apologise for the late posting.

When you speak to the company they are quite candid and I also know they are a bit sensitive about the contents of their conversations being splurged all over HC so I will not be too specific. I want to be able to contact them in the future when the need arises. If you need more info please contact them direct and share it with everyone.

The reasons for the directors selling today appear to be legitimate based on what was said. It is not a good thing though IMO. Never is and never will be but hey they are human beings with committments just like the rest of us.

The wave of buying today was unexpected by them and it will be a few days before they will know who was buying. They sounded pleased about the buying as the implications are that the ANZ overhang may be reduced.

There is progress being made in other areas but dont expect a posting of any major breakthroughs anytime soon. That was also a reason offered as to why they should sell now as their was no SP sensitive information before them.

A limited drilling program is still very much on the cards this year although I forgot to seek confirmation whether it would be to finish off Sandy Creek or Djibitgun.

Pursuing the Cawse Extended spin off through the ATO. May be relatively close in that regard. I cant comment or speculate on the timing as I simply dont know but am encouraged as it is still progressing. They are in regular contact with Norilsk but in turn Norilsk are not under pressure with progressing their project.

Finally I do hope we get some information on ANZ's shareholding this week. I cant help but feel once it goes below 10m shares that buyers are more likely to sense the end of the overhang is near and accelerate the mopping up of the remainder of the shares. Still incredibly cheap IMO.
Thats it for now.
Good luck to all
W2