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ESS essential metals limited

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Ann: Mineral Resources Shareholding in Essential Metals, page-37

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Fatshark

673 Posts.

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17/04/23

18:21

Post #: 67318654
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Originally posted by w27 ↑

There are other players beside MIN and IGO. I have a top 20 dated 13/4/23. Ten of the 20 holdings are nominee holdings. The total share is 81m. There have been three very heavy trading days since - my guess is about 40m shares on those days. I would assume that most of the buying was by sophisticated investors. Something close to half the company's shares are in tight hands. IGO has made a presentation to investors where they expressed excitement about the increase in value to them from their takeover of ESS. MIN are not going away and there are probably 70m shares in the hands of others. A lot of those shares have been purchased at above the scheme price. There is a whole lot to play out here before the matter is settled.

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Even though today's closing price is lower, almost 8 million shares traded hands today.
No way that's all retail.

We'll see tomorrow if the volume continues.

ESS Price at posting: 54.0¢ Sentiment: Buy Disclosure: Held
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Ann: Mineral Resources Shareholding in Essential Metals, page-37

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