Hi BD,You are absolutely right and I'd feel confident that CVI...

Hi BD,

You are absolutely right and I'd feel confident that CVI got the disclosed number of Pensador shares.

Having read some of the lending/shorting theories on HC, I wanted to explain how I beleive the Placements were probably handled.

I mean when you think about it; Why would anyone want to buy 75M shares at 22c, when the share price had only just climbed from half that level? Especially if you are a non-destript outfit in the UK buying ASX listed securities?

And why would you take 20M shares at 10c each, when the market had just brought the shares down from double that price and the shares were now regularly below 10c?

IMO a party would only enter into these types of transactions if they were well protected from the obvious potential loss.

The only problem with all this is it keeps CVI's SP under water as the market has had to soak up an enormous number of new shares.