What will IGO SP be exentitlement on Friday?, page-6

Hi ccdavid,
I think IGO’s newest substantial holder, MUFG has almost six million reasons to want the price to fall on open.

I highlighted the shares they borrowed to short sell last week ( page 71 of their recent substantial shareholder notice which shows all the trades they have made since August 4 [see it here].)

The fact that last Thursday they had finally built their position to almost 32 million shares and last Thursday concurrently borrowed around 20% of that number to short sell indicates them having a strong investment in a sell down to under that borrowing price? (On Thursday the price ranged between $4.85 to $5.04 if that counts for anything. )



MUFG’s current holding gives them potential to acquire about 3.7M shares
I presume they will take up this offer and also buy into any dips if the price should happen to fall (although this is illegal trading so perhaps they will just take up the offer and profit by shorting into any rush for the exit as holders ‘leave the building’?

cheers