I asked him once, but he didn't tell me. I was a bit disappointed, felt same way as you, it would be good to disclose the two institutions name. But I feel more confident with JP as he has been handling this in a more professional way. As an investor, we always wanna know more details of the company, but we can't step the line, some confidential information won't and shouldn't be disclosed. Some management are good at promoting the story, some are focusing on delivering goods. I prefer the latter, although it might be facing temporary pain on share price performance, but I'm much much confident to hold the stocks.
I've just found the largest institution holder, which I believed they bought 4 million shares on market over last three months, and subscribed 10 million shares on the Tranche 2 at $1.15/share. If their name was disclosed earlier, I don't think they would be able to buy 4m shares at around $1 per share.
BTW, in the ASX announcement, it did give hint,
"Tranche Two of the placement, which is subject to Galan shareholder approval, will raise A$20.2 million and was subscribed for by two institutional investors with a track record of successful investment in the natural resources sector
“We are delighted to announce the completion of the Placement which has enabled us to introduce a number of high quality institutions to Galan’s register." JP. "
At end of day, it's up to each individual investor to do own research and make own decisions, whether you want a quick money or invest in a quality company with quality assets.
Don't rely on anyone else.
All the best.
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