If they are playing by the rules then as of two days ago Liongold must still have had less than 77.22% of SBL
From ASIC Regulatory Guide: RG 159.264 A person must give a substantial holding notice within 2 business days of becoming or ceasing to be a substantial holder or moving at least 1% (or by 9.30 am next business day during a takeover bid), whether or not they have completed a larger investment move or unwound their investment position within that time:s671B(6)(a).
The complete 159 Regulatory Guide is available for download here:
