Thanks Gareth.Those 24M shares are Regent's retail shares. I...

Thanks Gareth.

Those 24M shares are Regent's retail shares.

I suspect Regent owns another 12M (educated guess) in Institutional shares.

What are their plans for those shares?

My speculation is just as they were brought on the market and disguised as Citicorp shares. They will be sold on the market as well. Infact, I'd be surprised if Regent weren't selling them off already -- anything beyond $3.50 a share I'd say. That to me makes sense considering they are happy with $3.40/$3.50 for their retail shares.

Another thing I've noticed, look at the volumes recently. In my opinion if the top 20 shareholders own 83% of BCI. There's no way we would've had the recent volumes unless some entities in the top 20 (Regent's Institutional custodians) weren't selling.

I'd love to see an updated top 20. I reckon some of the top 20 nominees have decreased their holdings.

ALL speculation on my behalf.

Also, me thinking that Regent have had a dummy spit recently because they no longer have their baby (BC Iron) under control is also speculation on my behalf.

Also also, me thinking that Regent have just shot themselves in the foot by not taking their entitlement recently because of their dummy spit-- which turned out to be counter intuitive (look at the price now!) is also me massively speculating.

Bye bye Regent :)

You probably would've got BC Iron for $4 a share. I hope you don't mind me saying but to offer shareholders a 4% premium was seen as an insult and in doing so, you placed BCI management in a hard position. Of course that's only my opinion.