Ann: Notice of Annual General Meeting/Proxy Form , page-19

re: Ann: Notice of Annual General Meeting/Pro... the point you make is valid in that 22m has been traded in last few weeks.My guess some of that is a Uk arbitrage but also some of the Top 20,like Hillboi, have increased holdings-they went from 2m to 3.5m.Other Top 20s to increase or come onto register include

PERSHING AUSTRALIA NOMINEES PTY LTD
1,502,830 is a new Top 20 holder since 20 Oct.


YSY INVESTMENTS PTY LTD
1,700,500 is a new Top 20 holder since Aug and increased another 130,000 since 24 Oct.

UK interests which is noted as Computershares Clearing PL has increased from 59.6m in Aug to 62.1m at 30 Oct.

The old stagers like Arredo(Middlemas)and Piat etc have not budged an inch.It is a very strong top 20 once both camac and hsbc (GS) are gone.

Also it is a positive if the buyback has been saved for post drill results.I do not agree that it is poor management.My guess is Camac did not want shares but best offer available and were surprised they could sell on market so have done.

This is not normal drilling either and results will take a little time to process and analyze.