Thanks Jako, that is very helpful. Intuitively, I gathered...

Thanks Jako, that is very helpful. Intuitively, I gathered something along these lines was happening, but it is great to see it in graph form. I was considering a sell and buy-back strategy myself given we are still a little off a decision, but am going away for a couple of weeks and don't have time to monitor the SP .

The reason I think we are still a little way off a decision is that I got the following responses from management. I have thought about the consequences of reproducing this and don't believe I am breaching any confidentiality.

I sent the following queries to management in an email:

"- in relation to the clarification statement released to the ASX on 5 April 2011, was this announcement prompted by the ASX themselves?

- what is the likely timeframe in which shareholders will be informed about the progress of the CCP development decision?"

24 hours later I got the following response from Eamon Byrne with MA copied in:

"- In line with the practice of many of our peers, we would not normally respond to press speculation but on this occasion we were asked by the ASX as to whether we wished to put out a clarification. We thought that we should however the request was made some ten minutes before 'market open' so in order to ensure that our response was a measured one we request a short trading halt to enable us to properly draft a response.

- At this point in time we are not in a position to put a precise timeframe on the completion of the CCP development decision process. We are of course working as quickly as we can to arrive at that point and appreciate that are shareholders have, and are been, very patient with the process to date. As you will know we have made important progress in recent months with the approvals and permissions process. We will be providing a further update in our March Quarterly report which we will be issuing before the end of April."

Here are my scattered thoughts on this. Appreciate thoughts of others:

- Firstly, I owe oze_wolverine an apology. The ASX are more proactive than I gave them credit for and oze was right about this. It seems clear though that EXS were not under an obligation to make an announcement, so my original theory that they called the halt to stop the price running may still hold true, however the probability of this has decreased in my mind.

- in terms of timing of an announcement, it looks like we are still some way off given they have resigned to the fact we will only get an update in the quarterly. The last 4 quarterlies have been released between the 26th and 31st of the month, so we are still a couple of weeks away from that.

So, all in all, I can understand the strategy of some traders and ST holders to sell now and put the money to better use, but with the view of jumping back in a few weeks or if/when the price gets below 60c. Those that have a longer term view should hang in there though.

I am forced to hold as I said, so I am not benefiting really from sharing this. I think the posts on this thread are of a high quality though and we don't get some of the dribble I see on other stock threads, so happy to share this with you lot. I was a little deflated when I read the response I must admit, but I have to keep the end game in mind and remain patient here. We will be rewarded in the medium-term no doubt.