Caketin Hi there , you always ask difficult questions - UBS had...

Caketin Hi there , you always ask difficult questions - UBS had only 800k but essentially what I can understand from public documents is that about 4 million of the 18 million placement made in November went to investors that had held for some time - so I doubt that much would have happened to those.

So I say there was around 12 to 14 million that were placed into new hands and I reckon about 1000000 of old shareholders would no longer have been underwater so may have jumped to get out. Pure guess but you have to have those. So say 14 million for sale they were issued in late November and December so I don't think much moved then so say about 3 million may have been moved on then. (thats a few weeks after getting shares That means around 10 or 11 million left. The last two months 4 million have been moved and I would say they are all from that source. The first 3 months of the year its hard to understand so I looked more closely - the next month back I can see 2 million but I think that related to the disappointing half year - so I ignore those. Then back wards I can see around 6 million moving and I would assume at least 75% came from disappointed holders where they did not get a meaningful stake and there were buyers - so that 4.5million and yes your 15 million over 6 months looks right Caketin. adding that up its about 11.5 million that I attribute to churn. I would still believe they have around 3 million to get rid of and then I would assume that another 1 million would relate to June selling. That's a very hard ask for this company so I still see downward pressure - I think this may be my bargain of the year. @21cents I will buy more but I have done my bit right now.