RE: #GGP Podcast. Glory above if the price can breakout.6 Oct 2024 00:21
MartinN, why do you say “ Our SP will rise when the short term profit takers, both individual and institutional, have taken their 25%+ profits having picked up their 4.8p shares.
Look I’m as bullish as anyone here, but for you to come out with statements like that, just proves to me you haven’t a clue on how traders take their profits, and thus just how stupid it makes you sound.
Firstly, any private investor with an ounce of sense, if they wanted to make a quick profit, would of done so by now. They would’ve either forward sold stock they already owned prior to the 1st October, or they would of certainly sold them when the SP recovered back above 7p last week, giving them upto a healthy 50% profit.
There was only a 140 million shares issued to Pi’s in the placing, not enough to go around and supply what existing shareholders wanted.
I for one didn’t receive what I’d asked for but still received just over 1 million. That’s only another 130 odd investors asking for over a million, for all those shares to be gobbled up.
Not many in the scheme of things. But just reading this board, it looks like hundreds tried to get shares, but were unable to due to all sorts of problems.
I think anyone selling to make a quick buck has already done so, including as you say some smaller Institutions.
You only need to see the level of trades that have gone through this past week.
TR1’s a plenty RNS’d, Wyloo adding again to 1,105,136,117 shares, raising their holding to 10.6% from 8.6%, when everyone thought they were just maintaining their 8% position.
Tembo Capital Holdings Guernsey Ltd, a new Institutional investor who jumped aboard purchasing 796,770,833 giving them a holding of 7.65% of shares in issue.
Firetrail Investments Pty Ltd, another Institution who have jumped in head first, with a purchase of 669,619,721 shares, giving them 6.43% of shares in issue.
And last but not least, Newmont, who will be given 20% of the company as part of the US$475M deal.
All those mentioned above who have now got between them a huge % of GGP shares, will imo, not be selling into the market anytime soon. In fact Wyloo have a sort of FROR to purchase any of Newmont’s 20%, if ever they decide to divest some of their holding, again being passed from sticky hands to even stickier ones.
I think we will see the big numbers we have seen traded last week settle down, until at least we get an RNS stating, all work at Telfer now complete, all test passed satisfactorily, and we now have the keys to the front door.
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