possible info leak

More ASX queries. Looks like my suspicions may be correct.

Refer my earlier post below.

The price breakout was quite interesting. From a technical view, it was an important breakout as it closed convincingly (on high volume as well) above all previous highs reached since Cazaly's major fall from grace in April 2006.

IMO, a possible clue for the reason for the spike in the share price was revealed in the announcement dated 18 Jan 07(UPDATE OF PROCEEDINGS TO OVERTURN MINISTER'S DECISION).

In the announcement, towards the end, it states:
'DLA Phillips Fox (Solicitors for Cazaly) have already received some informal discovery and are currently considering these documents'

I suspect that the 'discoveries' that Phillips Fox have received so far may have contained some crucial evidence which may increase Cazaly's chances of success. Enough anyway for some people in the know to increase their holdings yesterday.

The announcement then states 'By reason of the confidentiality orders, Cazaly is unable to make any comment on the content or significance of these documents'.

This statement is also important as it explains why the directors were allowed to say that they did not have any information to disclose in response to the ASX price query as they were legally bound by confidentiallty orders.

Will know if my suspicions are right over the coming months leading to the Court Hearing.

Should be interesting next week!!

My opinions and thoughts only. DYOR.