The new shares represent another 4.7% so if it's a new insto on the register we won't be getting a 603 notice as they won't top 5%. If anyone wants to play detective it would be good to know who they have gone to.
On reflection it looks like XAM are now primed for some serious news flow. We'll get the updated MRE next month, plus confirmation that completion of the Karmagtai PFS is fully funded, probably combined with a more detailed exploration plan for Red Mountain... although that may come as a separate announcement if they are looking to maintain their ~monthly flow of news
As this money is also intended to allow them to execute on their "Horizon 3" strategy there should also be an announcement around "project acquisition and exploration" in the offing.
I don't think the SP will be in the single digits for much longer, plus the Copper price is starting to show signs of life, and there is plenty of talk of the Chinese increasing their smelting capacity. Happy to hold, if it dips below 6c again I may even top up a few more.
XAM Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
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