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Directors’ Interests

Directors of Lycopodium Ltd sold six million shares, on-market, at $2.70 each on March 8. Lycopodium chairman Mick Caratti sold 2 million shares for a consideration of $5.4 million, while directors Bob Osmetti, Bruno Ruggiero, Rod Leonard and Laurie Marshall each sold one million shares for a consideration of $2.7 million each. The directors retain between them 21.6 million shares representing 57.4 per cent of the currently issued capital. The sell down will see institutions, five major Australian small-cap funds, take approximately five million of the six million shares with the balance going to what are described as retail shareholders. Tennant Creek Gold Ltd has advised companies associated with directors John W Barr and Neil Biddle, have exercised two million options resulting in a raising of $300,000. The same directors have also sold 2,191,754 ordinary shares to non-associated parties in on-market trades for a total consideration of $328,764. Terence Smith, director of Batavia Mining Ltd, has decreased his indirect holdings in the company by 1,470,234 ordinary shares and 220,234 options through on-market trade for a total consideration of $97,881.

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