RE: SA farmout ?24 Nov 2023 12:04
As for the majority of lower level funding, they forward sell higher and play both ends, the more they make on the high coming down the happier they are go go below the placing price, its very common if you pay attention, a good example would be ICON pre consolidation days, when EHGOS was very compliant with TR1's.
If you listed all of the placing volumes and dates to (cough) supposedly hit the market, then made a list of the amounts reported on the TR1's, they where always one step out, clear evidence they were selling the previous tranche and the date to hit the market, what a shocker, the day the next cln tranche was reported as next to be issued. π