tightly held?, page-6

Hi Spi ... how are you going?

I think the use of the term "tightly held" is meant in a relative sense.

By that I mean that 300m shares are owned by the vendors of Laguna. Accent own 100m, and the Steinepreis' and other substantial owners own around another 100m. Thats all up around 500 million shares in substantial holders hands. Some of these could sell, but all have to give notice to the ASX if they change their holdings. None have done so yet, so we can assume they still hold. My view is that the Steinepreises aren't in this for a few "cents" profit ... there is more to come.

Then there are many other holders, including you & I who havent sold a share yet further reducing the 200m.

So on a cursory glance some potential buyers might balk at buying shares thinking that 700m is a large amount of shares on issue ... it is, but the reality is that only 200k are potentially being traded atm .. that is why the 224m shares traded the other day was so astonishing!!

It will be very interesting if we get some good announcements in the next few months, as LRC has the potential to run very quickly for a penny stock because of the above reasons.

cheers for now