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$1.08 cardinal resources limited

Ann: Ceasing to be a substantial holder-CDV.AX, page-9

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tbrin

2,516 Posts.

290

12/10/16

06:28

Post #: 19788770
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I just re-read my post and noticed an error: the consideration for 15,141,187 x 58.5c is of course $8,857,594.39. All other points remain.

I wonder if they sold down ~10% of their holding, and being a foreign entity, have misinterpreted the fields on the ASX form that they submitted...

Originally posted by tbrin ↑

As of the 30th September, Precious Capital Global Mining and Metals Fund held 16,414,507 shares for a total of 5.52% of the issued ordinary shares in Cardinal.

The numbers in this announcement are fairly hard to distinguish, however on face value it appears they have sold down 15,141,187 shares. However the dollar figures appear to not correspond if i'm reading them correctly. To my eyes, the consideration reads as "$65,420" + "$751612.40", for a total of $817032.40. Even at the monthly low of 58.5c, that would only be 1,396,636 shares. Conversely, the consideration for a sale of 15,141,187 shares at this low of 58.5c would be $25,882,370.

Note: If the 15 million figure is accurate, this would be the entire volume traded back to atleast 23rd September, and that's assuming they have been the only seller (which I doubt).

I think there's an error here somewhere ... I think someone needs to pose this question to the company....

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CDV Price at posting: 66.0¢ Sentiment: Buy Disclosure: Held
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