Good Call BlackGold. You were spot on.
Seemed the only reasonable explanation and more so today with its continued support.
HARDMAN RESOURCES LIMITED 2002-06-04 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
The Directors advise that the Company has sold part of its holding of
ARC Energy NL shares, realising a profit of $2,267,997 on the shares
sold, with total proceeds being $3,370,514. Hardman retains a holding
of 9,325,000 shares being 6.11% of the issued capital of ARC.
Hardman acquired the majority of its shares in ARC in April 2002 via
the conversion of a loan to ARC in September 2001. The terms of the
loan gave Hardman the right to convert to ARC shares at a price of 16
cents per share.
The partial sale of the ARC shareholding is in line with the
Company's financial management strategy and has enabled Hardman to
show a profit in the current year from this investment. Hardman
remains a supporter of ARC and commends the ARC board and management
on their successes and achievements during this period.
A Notice of Change of Interests of Substantial Holder is following.
T Ellyard MANAGING DIRECTOR
FORM 604
NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER
Hardman Resources Ltd decreased its relevant interest in Arc Energy
NL on 30/05/2002, from 15,825,000 ordinary shares (10.37%) to
9,325,000 ordinary shares (6.11%).
HDR
hardman resources limited