Ann: Ceasing to be a substantial holder, page-19

At the time of the announcement in June . . . Bank of New York Mellon, State Street Bank, and Brown Brothers Harriman Investment Bank (all banks in the USA) had 55 million MGX shares remaining.

Since the announcement there have been around 40 million shares traded on the ASX.

From examination of the figures in the June announcement, their daily sell off was in the order of 75% of total daily sales on the ASX.

Bank of New York Mellon, State Street Bank, and Brown Brothers Harriman Investment Bank (all banks in the USA) have been liquidating their holdings in MGX.

From Bloomberg 5th July . . .
"Bank of New York Mellon’s asset management arm has set its tactical conviction toward cash at the highest possible level, out of concern that Federal Reserve interest rate hikes still have the potential to upend markets."

This follows a run on deposits in USA regional banks that has recently caused the demise of several banks in the USA.

Judging by the "conviction toward cash at the highest possible level" statement in the Bloomberg article . . . it is probable the 3 USA banking entities have continued to prioritize cash by selling what remains of their holding in MGX.

At a 75% rate of daily sell off, we do not have much longer to wait until they are finished selling.