We waited for the Agm and we thought something has to change because of the way Gb has performed and now we are still waiting can anyone suggest a way of removing the people who are supposed to be working for us the shareholders instead of them taking money for doing what see as not a great deal I was informed some 6 months ago that they were looking at doing a deal same usaual nothing come of this supposed deal apart from Go has taken another 6 months money
There are strange goings on over at Red Emperor Resources (RMP). Since the company announced the failure of the Hawkeye-1 exploration well, it has issued half a dozen holdings RNSs in which three organisations, including its UK broker, Brandon Hill Capital, have been steadily increasing their notifiable holdings on the open market. Yesterday, the J&J Bandy Super Fund joined the party, declaring its 3.66% stake. Today the company’s share price has risen 8.37% to 1.27p, last seen. Does the market sniff that something is afoot?
When I last covered Red Emperor I wrote that this is a stock to avoid. Today’s piece might seems like I am back peddling on this, but it would be foolish to ignore the recent flurry of buying, especially considering Brandon Hill’s participation. Brandon Hill now owns 6.47% of Red Emperor, having increased its stake in the open market. This is highly unusual and a little hard to explain.
When corporate advisors take stakes in client companies they usually do so in lieu of fee payments. For Brandon Hill to have bought its stake directly on the market, this does suggest it is confident something is coming.
It is also interesting that the buying has been going on over here, as well as in Australia. The J&J Bandy Super Fund paid for its shares in Australian cents, as did Seventy Three PTY, which now owns 5.33% of the company.
Finally, there is the J&J Bandy Super Fund to consider. There was no mention in yesterday’s RNS that the J&J Bandy Super Fund has anything to do with CEO Greg Bandy, but it is worth noting this RNS from 2012. This described a change in director’s interest. This announcement declared an indirect interest for Mr “Gregory John Bandy & Mrs Jennifer Therese Bandy <The GJ Bandy Super Fund
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