VVSWhat the crew mean when they say that most of LRC's shares...

VVS

What the crew mean when they say that most of LRC's shares are tightly held, is that prior to the recent SPP (share price placement), most if not all shares were held by company directors, corporations etc. Not many retail investors had many to play with (i.e. you and me).

Have a look at the figures below


Shares on issue prior to the placement - 408,387,450

Shares offered for the placement - 311,250,000

Total Shares Post Completion of the placement - 719,637,450

Now the figure 408,387,450 was pre placement (and this again was mainly directors, corporations etc).

REMEMBER

This was when the company was called SPP (Southern Pacific Petroleum), when the company was re-listed in 2008, and pre the name change.

REMEMBER

For every 1 Laguna Share held by Laguna Shareholders; 13.4264 shares were offered. I can only assume that includes the directors. (This information has been taken from the SPP (Southern Pacfic Petroleum) prospectus which I downloaded from the internet, but can't find the link. As far as I know directors are not allowed to sell, only during certain frames are they allowed to sell.

See Page 39 of the most recent annual report for LRC, and it will specify the Top 20 shareholders (Current as at 10 March 2009)

http://www.lagunaresources.com/pdfs/AnnualReportToShareholders25Mar09.pdf

There are options, but they are not available for buying or selling on the market.

All that is going on now is distribution of shares into our hands. It was very interesting today that the selling appears to have stopped, and the SP is once again slowly moving up. Traders appeared to have abandoned LRC for the moment, and surprise surprise what is sitting at 0.013 and upwards is being held and not sold.

What does that tell you? We're are getting ready for the next move up.

Hope this helps

Cheers

eMark