So will we get some 603 , 604 and 605 sub holder notices today or will we have to wait T/3 ? eitherway you would think a decent feel good FOMO spike is in order today - After the bottom was in at $1.37 CDU put in a reversal day on the 12th of august to $1.91 before M & G reloaded the gatling gun.
With little free float left other than profit takers who got on sub $1.60 CDU need to break $1.91 in quick time for me to be convinced a decent rally back towards $3 or $4 is possible.
M & G and Oceanwide have 52m shares between them
Sinosteel will soon have 17m shares
Some entity/entities got 13m yesterday
Worst case lets say they went to the chinese to give them a collective total of 82m out of 211m total ( post sino issue ) they would need to get another 23m/24m to get to 50%
M & G had sold 20m shares prior to yesterday - lets assume 50% of these went into retail punters and the loan stock safe hands that still leaves 10m that could also have gone to the Chinese -Given how paranoid everyone was about the Xmen taking over CDU at the meeting I attended on the Gold Coast a few years back when they didnt appear on the register at all - I now find it curious no one seems concerned about the stranglehold the Chinese could now have on the company.
hOOt
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