i posted this at the other place having compared the most recent top20s that i had. worth another go round
in the past month top 20 holders of ords have increased as a percentage of the total despite the placement.
up from 14.41% to 14.93% .. top 20 now hold 75,594148 shares as opposed to 68,414,925 before placement.
top holder globe dropped just 200k; new number 3 holder now has 5.9million and had not been sighted before (allegra client obviously?) ... hsbc dropped 1.8m, citicorp dropped 1million.
smaller players from 7 to 10 picked up more 8million between them.
Have compared the t20 oppies hodlers to a few weeks back and its very interesting to see who is buying more and who has exited.
all the smaller players are sticking. the big boys bailed. Cunnighams obiously gone from 89m to 16m to likely 0 and hsbc out as well dumping 25m to 7m to likley 0.
In all the top ten holders scooped up 30million of the slack, all a good strategy it seemed before the company gave away another 70million ops for free. anyway. big gas flows will take care of it and oppies will help pay for the field, but first company has to show that they can flow the gas and then sell the story. at this stage, it would appear only us true believers are buying it.
gas flows this next two weeks should highlight that they have a revenue generating business and the rot should stop. can management find a cornerstone investor and will allegra stump up to support share price and justify getting all thos free oppies ?
GDN Price at posting:
9.2¢ Sentiment: Buy Disclosure: Held
