Digging into a few things less about graphite and more around...

Digging into a few things less about graphite and more around stock structure and holdings, I’m intrigued by the following;

• Reading there is 165mil shares on offer across all markets; 81.5mil on the ASX. Comparing to the likes of RNU with 2.1billion, this is a very tight knit structure. Although can sometimes mean it’s hard to sell when there is little buying interest, it also means the contrary. In the event of further good results, getting a decent position will be extremely hard and will likely push the price higher.
• Top 20 holdings (as of end April 22). Sitting at a whopping 58% of all shares on offer across all markets (96mil). Average holding across the top 20 holders of 4.8mil shares. A majority of these are likely big players with long term investments. I’m intrigued to see updated figures and whether the top 20 are adding, holding or selling.
• Combining the two points above, any positive news flow will make it very difficult to add any large positions to IG6 without moving the price up significantly. Keep in mind the drops may be just as fast in the event of poor news or even slow news flow.

39 holes drilled and the first 9 look great. Eagerly waiting to see how this plays out.

Happy to be corrected on any of the above as the only data I could find on the topic is from IPO.