Ann: Annual General Meeting - Sample Proxy, page-5

@TomTOm49

Hey mate, thanks for the tag..

I think you’ve hit the nail on the head with liquidity, there’s very little of it and there’s a reason for that..

The top 20 hold circa 95% of issued capital according to the report at June 30, so with 137m SOI there’s not much in the float to play with (circa 6m).. So those spikes you mentioned are fleeting by nature and my speculation is it’s likely retail transferring value between themselves..

Here’s the data to back that speculation up..



You can see for whatever reason on the 23rd June (the asx paused for a please explain) when the SP rocketed on 7M volume turnover which is just over the 5% available float, retail were the top net positive value of transactions for the day..

But you’re right on the technical analysis throwing some good signals, but it will go really nowhere short to medium term, even long term it’s hard to speculate with the ratio of float..

You can see the investor sentiment just plodding along..




Unfortunately, until some of the top20 release the grip on the float history will repeat itself.. This would be a very long hold if you were to pick up a few.. and it’s only a few you would get

Hope this helps