I agree - very interesting and thoughtful analysis Kahuna.
I was initially confused by your comment about Fidelity selling down - but having looked at it for the last 30 minutes - I agree that are probably totally correct. If so, it was more of a trade by them rather than a long term position. Maybe they have a core investment position, and trade around that. Who knows.
I had assumed that the annual report mention of them as significant shareholder reflected as the time of report preparation - but it clearly reflects the June 30th position - duh!!!. On Oct 5th - they went below 5% - and don't have to report further!
Do you have any broker or other feedback that would add some meat to this analysis of Fidelities actions.
Cheers and thanks TGN
HDR
hardman resources limited
