sudden large volume, page-5

Hi HorsesMouth,

So lightly traded that is suseptable to a largish seller. I thought Trojan might be selling down for cash, to participate in a possible NR rights issue. No longer think it was them.

Part of my reason for holding is Trojan's 19.9% GPM holding.

As you will know, Trojan are winding themselves up. We are profitable and trading at a substantial discount to NTA. These are nice ingredients for some sort of corporate action. A better than fair chance in the not too distant future imo. A negative is the trust structure.

The lack of clarity on new finance is holding us back. I've benefited in the past from the market slowly rising, making absolute bargains harder to find. They suddenly stand out due to their rarity and participants search more widely for undiscovered jems. We sure aren't there yet, but I'm hoping that will happen. Still in the "patience required" stage.