Well i think it's all but confirmed that its Palmer sending the...

Well i think it's all but confirmed that its Palmer sending the price down in an attempt to put a stop to the merger.

According to the updated Arc website, under Top 20 shareholders as at 7/1/2008;

"1 Mineralogy Pty Ltd 18,624,316"

Now compare that to the announcement made by Arc on the 31/10/2007 - Notice from shareholder - request for general meeting...

"Mineralogy currently holds 19,364,709 shares in the Company, representing 6.0872% of the Company’s ordinary shares. Mineralogy has acquired this stake over the period from July 2007 to the present, with an average entry price of $1.51 per
share."

Now that's a difference of 740,393 shares, but we now know they are selling and who knows how many they've sold in the last few days. It would certainly seem like it would be enough volume to sell the stock down.