Ann: 2023 Annual Report, page-31

regarding Gina:

yes. i would assume they did a proper DD. they are not amateurs. expect they check the drilling results back as far as they want to. check all financials, check all assumptions made. check timelines that management assumed and even contracts they made or are up to.

then asked for a participation.

now. that's theory of DD. in practice, it might even have been a bit quicker, maybe not so deeply investigated because maybe also for hanckock Arafura was a no-brainer. we don't know.

so I assume they did a proper DD.

that's why I can also speculate that someone is picking up all these shares. and this someone is only to a certain extend us retail investors.

Look, in the last months ECE sold their remaining 40 mil shares. who picked them?
The Capital raise was over-subscibed as we all know. plus: only Aus and NZ residents could participate. so guess there are a lot of non Aus and non NZ retail investors that picked some shares on the way down.

but seeing all the shorted 80mil shares plus the in total 100 mil shares from ECE, who picked the big tickets? who is benefiting from this low price.

question: what's the next level, Gina has to report a significant change in her (and Bianca'S) holding? now she owns 10%, does she need to report every next big purchase or only when she/her group reaches 30%? (or whatever treshold?)