One wouldn't imagine these guys are dummies or selling at a loss! (Unless perhaps they are third
generationers - the first to make a fortune, the second to build it and the third to lose it).
But, for those who may like NXM's prospects, and who hold a substantial amount of shares, there is plenty of opportunity for them to put pressure on the sell side and reload at lower prices at the expense of
retail investors ... who may be bewildered as to why the SP is tanking after such positive news.
... of course this would never happen on the ASX with so many rules and regulation and with ASIC watching so closely!
Perhaps someone with broker data access may be able to see which broker is selling but, that doesn't necessarily tell us the individual holders that may be selling. Unless they hold >5% they are not required to make 604 announcements (change in substantial holding announcements). Looking at the last Top 20 announcement from yesterday ... no one single holder owns more than 5% of NXM shares so no announcement will ever come (if you have the time to wait for the next AR or Top 20 Holder ann it
may reveal something) ... and we retailers will never know who is selling (or buying) until the 5% threshold is passed.
For those who have more time than me, you could possibly compare the recently released Top 20 holders (As of December 7th) on the NXM website with those top 20 holders from the last Annual Report ... a matter of a few months at most.
Here:
NXM Top 20.pdfand
Here:
NXM AR.pdf
