Yeah, the whole Steinepreis family is/was in this. Director (Gary), and from my count 3 brothers (Roger, Michael, Derek) and countless shares with their wives and probably children. Lol. Anyway, since it started moving, they've always been sellers. Most of their holdings are through Shaw from what I can see. Shaw if you google Michael Steinpreis is involved with. So broker report shows they are exiting or have been selling. They got in very cheap in the July 2020 CR at 0.5c. But that is their MO. Check out AVZ and TAR. They got in there when it was a shell, got lots of shares via CR and started selling after the acquisition and when it pumped. AVZ from my estimate they mostly got out between the 3-5c mark. TAR was before it mooned to 30c. Check the significant notices and times and prices. and tbh, those stocks, like LSA, would've probably gone so much higher earlier without that selling pressure.
Check this broker data out from the start of Jan21 till end of April21
View attachment 3246443Its ugly... Shaw basically unloaded and it's been mostly soaked by Commsec. Normally that would be a sell signal, but for LSA, I saw that Bell Potter (a Tim Goyder choice broker) WAS part of the CR in Feb21 (previous ones done soley by Shaw. Check the threads, i've got a post about it) so assumed that Tim Goyder was going to participated (big guess which ended up being right). Given CHN and LTR and DEV performance, and despite the 120m selling of Shaw the price didn't really fall apart, so would be good to assume that the rich retail shareholders from those 3 companies are also taking position in LSA. (also noticed lots of new posters were from either CHN and LTR). So it was ok that Shaw unloading to "retail" commsec clients.
Then month of May showed a turn/change in the broker report and the chart really...
View attachment 3246476Bell Potter and Pattersons are now buyers. These two brokers i recon TG and mates use. Bell Potter currently, if you search 2011 CRs for LTR and CHN, they were handled by Pattersons. Shaw are still sellers and will continue to be until Steinepries family is done selling, but now it's not only Commsec absorbing it but brokers too. Chart shows strongerbuying too.
And now here we are. I have no idea what this IPO will do to LSA. I'm not an LTR holder unfortunately, but boy would I have loved to be. But as I said earlier, TG and DR must be pretty confident on what they have to do an IPO on it. DR especially in leaving that cushy proven resource to this one that he needs to basically start over and start poking holes in the ground again.
Sorry... very long post. Just got too excited I guess.
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