new high, page-18

Easing today on the back of some director selling. Probably not a bad time to top up though as the current sell down by John Hynd is (according to the disclosure) one made by a super fund he has no direct control over.

Additionally, Vaughan Bowen has sold down about $25M of his shares over the last few years and it certainly hasnt foreshadowed any negative results. The directors still maintain a pretty healthy interest. John Hynd still owns an interest amounting to about $10M even after this selldown.