Top 20 Movement, page-194

June Top 20

With 1st tranche of CR being issued in June, the Top 20 saw big increases in their SH across the board.

Buyers - No.1 Citicorp added 120m or an extra 20% on their holding
New No. 2 HSBC Custody Noms moves up from 6th to add 166m or an extra 475% (I'm guessing this is Jupiter)
No. 3 BNP Clearstream added 3m or 2%
No. 4 BNP added 5m or 6%
New entrant No. 5 JP Morgan holds 75m - they're bullish and explains their updated conservative 10c pre DFS valuation
No. 7 BNP IB AU added 3.5m or 5%
No. 10 Bell Potter added 3.5m or 17%
No. 12 Molate added 500k or 2.5%
No. 13 Douglas Financial added 2.2m or 13%
No. 14 Trevor Pavey added 440K or 2.5%
No. 18 Treasury Services (Nero Resources) ARE BACK with 14.7m - after creating so much drama and pain for us over the last 12m and leaving the Top 20 in Jan '24, they've had a change of heart.

Sellers - Denis Rakich sold 1m or 3%

The Top 20 now collectively holds 58% of the SOI representing the tightest holding by this group. As I've said before, for those who were upset to miss out on the CR that was offered to these guys, one upside is that they are less likely to trade and subsequently will pull the other SH's along with a stable and improving SP as we progress towards the KGP mine development. I always like seeing a high SH in the Top 20 of a company and believe it demonstrates confidence in the project.

July will see 2nd tranche considered for approval and potentially issued within the month.