sp increase, page-2

Somebody such as CSG guy may give you a better answer - but you will see that the spike correlated heavily with the federal election and very positive comments from Ian Macfarlane; along with the declaration that MEL would come out of hibernation and drill Rosella.

You will also notice a steady decline in the shareprice from the AGM at the end of October, which saw the current board voted against 3:1 when taking ERM out of the calculations. Since the AGM we have not seen a single announcement. The SP also seems to have been 'massaged' on low volume in the last 1-2 weeks and appeared in my books to be correlating quite well with that of ERM who have over 100 million in cash and are our major holder.

Simply, there was macro level hope boasting the SP, which has been curtailed heavily by people taking profits of up to 300%; and dead silence from management which is being interpreted as weakness by the market. I also fear a lowball takeover if management do not outline their vision and plan to the market.