Hi Gun. Agreed with your comments on Bill Bloking's commitment....

Hi Gun.

Agreed with your comments on Bill Bloking's commitment. I personally really appreciate his actions.

That dump on Friday was unfortunate in respect of your comments re selling. It did look like it finally might have a bit of support.

On Tillbrook, I just had a look at the Top 20 on the website: http://www.gunson.com.au/irm/content/top-20-shareholders.aspx?RID=322  As ofJuly 1 Tillbrook apparently had not sold any stock at all. Basically it's only the top 20 with sufficient volume to do what's being going on and 4 of those top 20 are tied up between Tillbrook (3 entities) and Bloking. It looks to me like Tillbrook is prepared to wait and see if he can recoup capital but not prepared to add to his already heavy exposure.

Comparing the current top 20 with the Top 20 from the Annual Report, there are quite a lot of changes. A number of new entrants and quite a few of the existing have increased their holdings. It doesn't look like anyone of any real size was dumping in that period but 1.5 million as on Friday probably only comes from a Top 20 holder assuming they were also doing the other recent selling.