I'll give this 4,000,000 share thing a rest shortly, I PROMISE!!! If someone buys 4,000,000 sh. they need to disclose this to the ASX usually within two business days if :- 1/ They are already a sustantial holder who's holdings fluctuates by more then 1%, or 2/ A investor has more then a 5% interest in the company.
So I assumed that 4,000,000 sh. was over the 5% limit. However it all depends on whether you classify BCI's current number of shares on issue over or below 80 Million. At what point does the ASX take into consideration the new shares. Once the underwriter is laiden with the shares? Because if the ASX does, then on the 27th of July, when the 4,000,000 shares were bought from ALK. The number of shares on issue by someones definition could have been over 80 Million. If this is the case then a NEW investor actually doesn't have to disclose this to the ASX. I said that I thought that Consmin was the buyer. I've had time to think about this, I now don't think that it was. Consmin would have to disclose this. Nor do I think it was Regent. On Regent's 31/07 summary, the 4,000,000 sh. aren't mentioned anywhere. I now consider it to be a new buyer. My hunch is it's possibly FMG ???
BCI Price at posting:
$1.04 Sentiment: Buy Disclosure: Held
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