True AureliusIt take some time if Fortess Clearing wants to get...

True Aurelius

It take some time if Fortess Clearing wants to get rid of another 411,000,000 shares.

Looks like they are trying to, everytime someone buys at 0.2 cents, the big seller puts another 5 million or more.

They have blocked it now so the time it takes them to get rid of another 411 million shares could take months.

People wont just keep buying when they see a dumper like this...they are better off seeking an off market buyer.

It looks like ANZ is checking out that option as they have not sold any on market or tried to.

Fortess Clearing will eventually work this out when they are only getting through 2 or 3 million a day on market and that its going to take 100 trading days to do it. They are problem also on a time restriction.

So my guess is...once they stop selling on market, we are back to normal trading and LSL should rise again.

Its unfortunate the 2 directors had all these on margin loan and these guys got caught in the Chimera / Primebroker collapse.

It doesn't affect Luminus or their business but its certainly shattered the share price for now until Fortess pulls their head in and decides to get a buyer off market.

I'm holding as I see this going back to 1 to 1.5 cents once things pan out.

When I rang Paul White at Luminus, he said Directors would be making an announcement to market shortly regarding the whole situation and a plan of attack.