That depends if this section included these grades in the...

That depends if this section included these grades in the previous MRE. That are fantastic grades so if this section was modelled as lower grade then yes this will have a positive impact on the MRE. Is it enough to halt the selling, I doubt it.

On that note, I spoke with an associate last night that believes Ausbil is still in the process of liquidating their position in EM2. They dipped below 5% a few months ago which leaves them with ~15M as of July. There’s been a bit of volume through since then so I guess they’re still selling. In a way, it’s reassuring that it’s just one major holder looking to exit for reasons unknown. Perhaps that’s why Tim hasn’t dipped his hand not his pocket yet.