mungala ltd, page-2

Hi Molly,

Mungula Investments is associated with Melbourne Capital who arranged the December placement of 550m shares. They share the same director and between them now own more than 16% of the company. Whilst they hold over 361m shares only 50m of these where purchased this year. And this answers our question as to who placed the recent 50m buy at 0.2c.

All very encouraging given the additional shares were purchased on market after the company announced delays with its March Qtr projects IMHO. Their average purchase price per share is now just over 0.25c. I'd say that they're not in this play to lose money.

Considering we've seen over 450m shares change hands this year along with some fairly large parcels, I'd like to know if any other of the Top 20 have been active.

Cheers,

Arkie