NORGE yesterday announced it was BUYING net MIN stock
Their stake has gone up to 6.2% from 4.9%
and they did this by BUYING AROUND 1M ON MARKET AT DAILY PRICES between 4 June and 12 June
according to the filing lodged with ASX, they are now at 6.2%
so every 7 days they will have to advise the ASX & the public of their % holding & list of trading as they are over 5%
Clearly their little game of keeping it quiet as they built a massive stake in MIN on the 5 year lows has worked as suddenly they are at 6.2%
From the looks of it they are headed to 9.9% and will keep net buying and trading daily
the list of their buys and sell is very revealing
They sell on down days and buy on lows and up days
They are making a motza on that daily $50M volume using solely the ASX
And they are on average trading around 400,000 per day which represents around 15% of all daily volume
Basically NORGE control the opening and closing matches and the days runs
So as the days matches can be as low as 2000 they with 100,000 shares can run it up and down by 100c anytime of their choosing
And this is exactly what they are doing and they are followed in the trend by looks like 2-3 other INSTOs and 3-4 daytraders
NORGE has $1,738M US AUM as the largest sovereign wealth fund globally
NORGE is a large holder and NUYER of MIN now
NORGE is bigger than all the other top 20 holders and all of the yankee bondholders.
"Norges Bank Investment Management (NBIM), which manages the
Norwegian Government Pension Fund Global, has approximately 1.738 trillion US dollars in assets under management (AUM). This fund is the world's largest sovereign wealth fund, according to Wikipedia."
NORGEs buying spree here is a BULLISH SIGNAL of insider buying & a vote of confidence in MIN & CE
NORGE is our VIKING LEADER of the PACK
What they do is what we all do
DO not fight the leader, work with him as a team, follow the trend which is your friend.
NORGE is the HERD.
(20min delay)