There was a placement (run and underwritten by Cannacord and Hartleys) for 103m shares recently. You’d have to think a lot of the supply has come through this placement as at 15c who wouldn’t flip at 22.5c for a quick 50%. I know mgmt didn’t let APAC participate in the placement and you’d hope they’d have found long term holders for the stock but 50% in less than a month is hard to turn down.
Looking at the register - there is not many that could be below 5% sub holder and sell 37m shares. There could be a notice yet to be lodged on change of sub holder notice.. but here’s a brief list of big holders below 5%.. most are LT holders with quite a few US private equity firms who wouldn’t surprise to have taken the opportunity to liquidate their positions.
- New York Life Investment Management LLC - held 29.3m shares pre raise
- Jinchuan (44m pre rights - didn’t look like they exercised their right though)
- IFM (29.2m pre rights issue),
- Blackrock (27.1m pre rights)
- Credit suisse (24.8m) and
- Ruffer LLC (22.1m).
MLX Price at posting:
22.0¢ Sentiment: Hold Disclosure: Held
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