B,Lujeta simply buys on market and this increases his holding.I...

B,
Lujeta simply buys on market and this increases his holding.

I don't know the ASX rules but it would appear that a 1 % increase above a 10% holding is the trigger and thus he has declared !
It would appear that this top up tipping point has been reached within the last week.

It does put the short sellers on notice that there is no downside below $2.00 as he may choose to stand and buy [more].
BTW the shortsellers were putting out more than 250000 shares a day when the price was around $3.00. The Lujeta purchases create buying tension in the market.

You can estimate the buy dates by getting the average price and correlating that with the chart.
Basically it is saying that he regards the present price level as temporary and is a vote for the company direction.

The dramatic price fall was not orchestrated by management for Lujeta benefit. They are no doubt embarrassed by the Reserve downgrade and I feel sure it will not reoccur.

BTW HSBC and JP Morgan are bigger shareholders [but they are nominees]