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bosco222

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14/04/18

21:20

Post #: 32459737
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Originally posted by rationalmechnic ↑

Re: On-market purchase of OGX shares by Admark Investments (Chairman Joe Pinto's family accounts).
Appreciate the concerns of HC posters about Admark acting a few days before the release of a widely expected ann.
We also know that Joe is a lawyer and would be aware of the above being seen as 'not so cool' (my words).
Just a thought exercise here:
Perhaps the actual day-to-day management of Admark Investments P/L (which includes both Joe Pinto's family a/c & Superfund A/C ) is not in Joe's hands but rather in a third party manager's hands.
In addition, the manager may also run a few other accounts other than Admark.
I suspect the purchase of OGX shares may have been Joe's family decision but the timing was a manager decision.
And why would Admark not buy OGX? It is currently the second largest holder after Anglo-gold.
Also why risk the wrath of the ASIC/ASX for 1.22+ million shares when Admark already has 98+ million?

Anyway, we need to ask why did Admark buy more? My guess is that the chairman had to show SH that collectively OGX is the goods and not to lose the faith.
Atm, OGX is still a minnow at the specie end of the market. Joe's purchase speaks volumes in support rather than 'front-running' the expected news release.
Just my thoughts. Not recommendations and always DYOR.

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Well said...lots of speculation about and I'm guessing we will know more come Mon/Tues..
I quite liked it..what ever the reasons it still sends a positive message to the market.....futher more
To ...Ram01 I know you had the best of intentions.. But day traders have been all over this for quite a while like a bad rash...

Stay Strong....Stay Long...

Next week could be .....a week to remember..

OGX Price at posting: 8.9¢ Sentiment: Buy Disclosure: Held
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General Banter and SP Thread People., page-220

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