From a form 604 announced to the market 13/03/2023HSBC hold the...

First 27 Last

Share
Profile

Follow
MinaPlaya

2,585 Posts.

51

31/03/24

11:16

Post #: 73128727
Share

Originally posted by dgb99.94: ↑

In the last DRX annual report the listed substantial shareholders are HSBC 22.64 % , Sibelco 18.64% , Delphi 5.28%. It mentions another substantial shareholding from April 4th 2023 Delphi 9.34 % and ILLWELLA 21.04 %. The MLM annual report list includes HSBC 24.89 % , Sibelco 16% , Sparta 9.59% and in another substantial owners list not the Top 20 ILLWELLA 24.11%. Seems to me on that ILLWELLA could be in favour.
Also MLM already have a relationship with DRX at the Clermont Copper Gold Project. Also seems to be a late Thursday announcement that DRX are a substantial holder in MLM already.
Fair enough , entitlements ( parachute) are granted. From my experience when their is " In Favour " coming from the pursued BOD , the parachutes get lined with Gold. Hopefully it ain't the case. Do you recall the payout Simon arranged for himself prior to His departure and that was an acrimonious end. I personally had a small 7 figure holding at that stage. I have since increased that to mid 7 figures with continued faith in the asset and since Theo and Co came on. I am starting to get a feeling this is going bad.

Expand

From a form 604 announced to the market 13/03/2023
HSBC hold the shares on behalf of Ilwella

If Metallic's relationship with DRX was so close why did the agreement containing the "standstill clause" exist?

If you read the DRX announcement out Thursday arvo you will see it says shares held prior NIL, shares acquired NIL.
I am guessing this has been released early to do exactly has it has done for you and create the illusion that they already hold because you may not read or understand the notice.

dgb99.94 hang onto your 7-digit holding and I will hang onto mine, as will many others including Theo, I suspect, who personally holds around 9 million shares.

MLM Price at posting: 2.6¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply