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Investing strategy by Charles archer Headline could the west face copper shortages in 2023 well worth a read as he's a top man hope all's well in camp tonight
Thanks red, but they are still technically Norges' to vote with at the AGM?
The whole idea of these holdings announcements is that they're meant to be transparent. Unfortunately, they are so opaque they create confusion for those of us who are not market experts.
I don't like the sound of stock lending this close the the AGM.
Stock lending could be leading to shorting by the lendee entity
They've loaned shares TO another entity(ies)... 14.5 million...
Fort, I'm struggling with the RNS somewhat. It implies that the 0.631520% of voting rights (the same % as the 14,500,000 listed as on loan) BELONG to Norges, as they are listed under the RESULTING position (i.e. the position Norges now hold).
So have Norges loaned shares from another entity? I'm a bit lost here.
Capital letters are for my benefit!
Note Norges 14.5m shares 'on loan'.
Mmmm... they had 3.9% a while ago I believe with some of that ' on loan'.
Tut tut Norges!!
I did say a while ago that I think Blackrock would have trouble unwinding their 'instruments' ahead of a possible offer. I also said that we would see some TR1's as those that have stock on loan need to sort it all out before they get diluted on Friday's Chinese 180m share issue.
Can't wait to see blackjacks TR1 lol!
As they say.... there's a way to force those out for the shadows pre AGM and Friday will see some holdings declarations of interest to SOLG BoD's.
Votes matter on the 22nd.
Are these two things actually related? At the moment it appears not.
Not to put a dampener on the excitement here, but we don't know how friendly Norges are to the current BoD and new strategy. So them having a marginally greater say at the AGM is neutral until we see how they vote.
Remember, they were ploughing money into the company before all the recent shenanigans and they are typically investors for the long term (i.e. they wll want to be owning a % of Cascabel when it's producing and have deep enough pockets to keep on topping up their stake).
Last year (with DC as CEO) they voted in favour of all resolutions bar the re-election of Moller and the remuneration report. In June of this year (also with DC as CEO) they voted in favour of all resolutions.
I'm not reading too much into this at the moment. One of my worries in the run up to the AGM is that those we are up against - BHP, NCM and possibly Blackrock (Norges were mentioned too in the AFR) have friends with much deeper pockets than the self-styled scrappers who want to get this sold.
Glencore bullish on Copper
CEO Nagle sees copper hitting $15,000/tonne in London from $8400 currently.
No wonder the Chinese want us.
Now what does the PFS look like based on $15,000/tonne?? Anyone care to do the sums??
Quady/Red your right must be more news to come
So Norges Bank has increased its holding by almost 9 million shares and its got nothing to do with today's 42 million because the RNS is reporting a transaction from yesterday or last week...
https://www.businesslive.co.za/bloomberg/news/2022-12-06-huge-copper-deficit-is-looming-says-glencore/
Predicting near doubling of copper prices
Glencore to buy SOLG???? Who knows but we are hot property guys!!!
I cannot make sense of the RNS, I cannot make it add up, maybe more to come.
Well enjoy your day tomorrow everyone :):)
As far as I can see they've iNCREASED their exposure...less shares but more instruments...
Before 3.066 + 0.157 = 3.223...
After 2.977 + 0.632 = 3.609...
82,875,000/2.296 bn = 3.609%
Rns out
Norges Bank
Holding RNS just out
Strange about 8 million pounds, nothing that has happened equates to that amount.
It may be possible that CGP have sold a stake, however that doesn't equate either, as the price is too low.
Last thought is that someone has been trading off book and building a position and it's now getting declared.
The Trade Flag was TNCP
"Executions not subject to current market price will be identified for post trade reporting as “TNCP”"
Maybe somebody can explain this...
"MiFIR requires certain trades to be flagged as a ‘transaction not-contributing to
price formation’ (TNCP) (or similar). The TNCP flag includes technical
transactions, such as collateral transfers, give-ups and give-ins, and inter-
affiliate trades undertaken for operational purposes. However, it also includes a
number of transactions that may represent an economic trading interest, such
as benchmark trades (see Appendix A2 for more detail). Given this, it is
possible that applying a filter based on the TNCP flag alone may over-estimate
the number of technical transactions. On the other hand, it is not clear that all
technical transactions will have been identified as TNCP. For example, in Q1
2021 there were 540 trade sub-condition codes within the SI and OTC
categories across the European equity market universe.9 While some of these
codes have not been explicitly flagged as ‘TNCP’, the precise economic nature
of the transaction is not clear from the available information."
Bubble, only if the buyer already had a notifiable interest, or this purchase pushed them over the percentage.
So the question is, who were the sellers?
42 million shares would indeed warrant an RNS explanation imho
Would that be on the stock exchange ?
I don’t know the answer fort but would of thought selling of
Cornerstone shares would be like private placing or selling