I do not wish to be negative on what appears to be a great story...

I do not wish to be negative on what appears to be a great story in the making, but, I have to admit that the largest shareholder concerns me.

OK he's a director, that's OK. BUT he owns something like 47% of the coy. He only needs 3 and a bit more % and he effectively controls the coy - entirely.

So he has lots at stake. True. But equally so if its easier to just carry on with significant holdings and mine money then what's the differnece.

The buy back sound good in principle. BUt why the buy back at a time where money should be used to improve the coy's value through productive means. THe buy back IMO provides opportunity to take the largest shareholder to over 50%!

If you are looking for the rat I suggest you starting looking at the top and ask yourself the question. Is he there to set up a mine in good time or is he there for any other reason? Answer that question and I think all others will be answered.

I do not own and was very close to buying in at 81c. I did more research and realised this interesting peculiarity and was then concerned about it.

I don't think I will buy for this reason, but, that doesn't mean much. Carrick could be the next Lihir, but, without some form of understanding as to the intentions of the largest shareholder I remain cautious.

GC