Im back baby!
I was chewing on my arm watching from the sidelines.
With this thread title I drew attention to this secretive large buy in POS by Pershing/BNYM as it is a sign that large hedge funds and large Instos are now positioning themselves for what they see as the inevitable NP rebound.
Nick Evans of the west newspaper told us 1 month ago that many large foreign investors were "sliding the ruler over many Ni stocks" inc WSA POS PAN MCR
We now know that one of those investors he alluded to was Pershing/BNYM the major holder & major lender in MBN which took a massive top 3 stake in POS overnight in stealth cited on p4 of the Form 3B and ignored by the market.
The nature of this move and its secretive nature unheralded by the media or unworthy of separate highlighting by anyone from POS foretells of something much much larger here:-
- why didnt POS shout this in flouro lights from Fortescue tower?
- why didnt they PR the heck out of this major new investor & issue separate announcements
- why didnt the parrot or NH start squaking their hearts out how POS has received the backing of one of the largest and greatest US funds/lenders?
- what is BNYMs intentions here? A preemption right i predicted.
- why didnt anyone compare this move with that of US bondholders and US large funds in FMG & again in ANL in 1995-1998, an AF signature move?
- why did BNYM only take a 3% stake and why now instead of when they needed it in October 2016?
- why did they go early and take it now and get funding now?
- why does POS want $1M cash now that they dont really need now for another 6 months?
- why is POS continuing their prior policy of SI CRs and not NRRIs? Same tactics no change
- why is the volume building in POS now with Warwick Capper still involved
- why did BNYM & Ong both take CR shares at 5.3c when they could get it on market for 3c-4c???
- what would be the SP if Ong & BNYM bought 40M shares on market, 3.6c no way! try 10c
- why did the POS SP collapse on cue July to now when the C&M was foretold as long ago as Nov 2014 by fredy and others & this decision saved POS ~$40M-$100M cash/losses like PAN MCR BHP FQM RVTHP Glencore MM incurred over ther same time period? Was it to allow their financier cheap stock so they can give them great massive finance deals in future just like they did with MBN?
The fact remains BNYM was THE major financier and shareholder of MBN and led the US bondholders into funding Perth based MBN to the tune of AUS$700M or US$500M to build a massive mill and mine for low grade Ni ore in brasil. They still hold this stake and control.
What are their intentions?
I asked
@Fredy &
@antonswig to dig up some info but nothing!
Maybe they are as shocked as I was.
Must be to fund POS to production, $20M bah thats puny to them.
(20min delay)