DDD, I too am extremely long on STM, so you are not on your own...

DDD, I too am extremely long on STM, so you are not on your own I can assure you. I'm not sure if I'm top 20 or how big but I hold across numerous entities and I haven't actually tallied it up. My understanding is that an institution that took shares in the recent placement have been dumping them ... yes at 20% less than they paid for them. Why? It makes zero sense and I understand it's not a reflection of STM but more of, frankly, a bizarre behaviour from an insto - which is not for the first time : we like to think they're rational and considered yet at times they are anything but. The big challenge facing MN and the team is that they don't have endless cash and they're burning it by exploring 2 separate areas. Now he knows, you know, I know, anyone who sniffs around knows that both areas contain mega deposit(s) ... but at their size they just cannot spread their limited coin across two fronts. If we were in a bull market, the shares would be far higher, they'd raise a lot more with less dilution, and drill like crazy across both areas. But they won't be able to do that. They're going to have to pick - El P or Brama (and associated regions). To my nose El P is the best option given proximity to the big guys so the quicker they size that up, the closer they can be to a mega sale. But nothing is quick, it all takes time. None that none of this is critical of the business or management - I have utmost respect for MN and his team and I trust their judgement ... which is why I am a sizeable holder. The pace is frustrating but it ALWAYS is, especially with porphyry deposits. So I'm probably not saying anything you don't already know DDD - but as a fellow holder, we have to sit tight I suspect. (By the way, the sobering question is ... if you didn't own it, would you buy it at this price? Mate, if I didn't own it, I'd have my ears pinned back and I'd load up the truck ... but I already own it!) IMO DYOR