Who is buying is not important! Underwriter may buy and support the share price. This may let the retail subscribe their right. Short term institution may also buy and trading after the right issue finish.
The more important question is who is selling at this price. It must be one of the top 5 shareholders. Do they have more information about the mine like the bank?
Anyway I only hold a small parcel of shares. The things stopped me buying more is CEO leaving, bank force reducing debt and Sep Quarter production reduced compare to Jun Quarter.
Ann: Ineligible Shareholder Letter, page-9
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