RE: Please Spade ...28 Jul 2025 17:24
Cazbraz, your assessment is correct.
GGP has been trading on AIM for many years, and so up until 24th June, 100% of the stock was bought and sold here in London.
Upon listing onto the ASX, the only shares available to them were the 10% surrendered by Newmont, and upto another A$50M dollars worth of new shares that were created as part of the ASX compliance ruling. A total of around 70 million shares compared to approximately 600 million shares held here.
Yes I know technically that some Aussie institutions and the BOD’s shares could have been made available, but I suspect they’re under safe lock & key, being held very close indeed.
We know of the 10% Newmont were divesting, almost all went to other Aussie institutions via the bookbuild that was 5 times oversubscribed.
That’s why I keep saying that presently there’s no liquidity on the ASX were GGP are concerned.
So yes, we are at a bit of a stalemate, but we still have all our knights, bishop’s, rook’s and Queen on the table as opposed to the ASX just having their queen. It’s just a matter of time before they decide to concede defeat and start to push up the price if they want to get their mitts on any decent quantity of stock still held close here.
I keep hearing the term “fungible” and “You can buy on both exchanges” !
It matters not one jot if folk here don’t sell, they can’t buy.
Just because they want them doesn’t mean they can get a hold of them, especially come September when we keep getting told the pension funds are mandated to buy us, plus many others when we make the ASX 200. They just can’t produce shares out of thin air, so where are they going to try and get them ?
I think everyone knows the answer to that.
This is a no brainier to just sit quietly and be patient knowing what is to come. Why do you think today ii were willing to take my entire holding off me ? This market will soon change into a sellers market in the not too distant future, once the people who want the stock realise we ain’t for selling.
I hold one stock, with quite a large holding , and mine aren’t going anywhere soon.