Perhaps it is just selling related with shares either being distributed between MMs or pre arranged sells coupled with buys to let yellow dragon exit or sell down their position.
Would love to see institutional interest in the company developed further. I know Fortune mentioned interest in a recent interview, I thought though it may have been African based, tying in with JSE listing. Would be phenomenal if it was UK based aswell.
if the cash is king mentality exists as per mrdavozz, whatever the bod envisaged as a dividend, would have a small percentage removed to be dispersed to workers as they seen fit. Everyones a winner.
Bmnfan, I believe NickD can summarise it for you. It was to do with the wording along the lines of 'exposure to cash flows' from the RNS which could only be done by increasing stake in Vametco.
No significant change in 'institutional holdings' between 30th jun update and this weekends update as at 31st july.
Of note; Yellow Dragon have maintained same holding (think BBN noticed a reduction in holding previously so no further selling on their part). Acacia Resources have reduced holding by 54348 shares over this period (hopefully not starting to reduce exposure from end of july which has carried into august)
I had the concern with the proposed JSE listing that some of the institutional holders may have sold down here to take up shares in Africa which certainly isn't the case as of 31st july. Does anyone know if Yellow Dragon (i know the name suggest chinese but it's just a name. Could be anybody from anywhere) are African backers? and given i believe Acacia links back to bushveld acquiring tin assets which have been spun off it is likely they are African or may wish to refocus away from the direction BMN is taking. Just thinking out loud before i head out.
MTB, I see they have also tweeted the article 2 hours ago, I don't do the twitter thing myself but sure some of you may wish to, like, re-tweet and vote up or do whatever people do with it.
I recall the MOU with CREC10 (cant recall the exact timing but certainly many years ago) and the possible offtake agreement that was part of the tieup. Come to think of it, I dont think we ever heard anymore after the MOU.