Accumulation?17 Jul 2023 12:43
I’ve been taking a look at the shares traded over the past 6 weeks particularly the 50,000 and 100,000 blocks buys, identified via the Level 2 book.
W/c 5/6/23 - 650,000 buys
W/c 12/6/23 - 3,250,000 buys
W/c 19/6/23 - 3,700,000 buys
W/c 26/6/23 - 3,450,000 buys
W/c 3/7/23 - 3,800,000 buys
W/c 10/7/23 - 5,500,000 buys
Now there are some interesting correlations for these when compared against the recent RNS’s.
2/6/23 - MOU3 commencement announcement
13/6/23 - Interim MOU 3 update - 2,450,000 buys that day
27/6/23 - Completion MOU 3
4/7/23 - MOU4 spud
11/7/23 - Completion MOU4
13/7/23 - MOU4 update - Nutech analysis
Now this all could be hypothetical, however if these block buys are all the same person that’s 20.35m shares purchased since MOU 3 spudded and upto results of both MOU3 and 4.
This number could be a lot higher as the data also shows block buys of 50,000 and 100,000 in unclassified based on the bid/ask at the time of the purchase, and these are not included in the above weekly numbers. So in effect there could be more than 20m if it is indeed the same person.
Just got me thinking when looking at the data…..and do wonder if we have someone accumulating?
Today the same pattern is continuing with block buying. 👀