ANZ staff who have been selling the shares in companies because of the Opes issue have sold one company too early.
ANZ held about 2,830,714 shares in junior Mantle Mining when they traded at a vwap of 8.4c. From what I can work out from the trading data and settlement reports.
Mantle his since moved to around 36c which represents a missed profit of about $750,000, which of course is chicken feed for ANZ but if the Mantle story continues to unfold to the liking of the market in a similar manner to that of MAK, the missed profit could be considerable.
I wonder how much research the ANZ decision makers did when they rushed in to sell MNM rather than sell down their newly acquired shares from Opes in the orderly fashion stated in the announcements to the asx?.
Not as much as some of the MNM shareholders who post on the Hot copper threads have done .
Each 1c movement in the MNM share price in the future will represent about $28,300 in missed profit ( or loss in the case of a share price drop which doesn't look likely).
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$30.40 |
Change
0.360(1.20%) |
Mkt cap ! $90.90B |
Open | High | Low | Value | Volume |
$30.20 | $30.40 | $30.09 | $390.0M | 12.85M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 663 | $30.38 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$30.40 | 4747 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 148473 | 30.260 |
5 | 101501 | 30.250 |
1 | 153257 | 30.240 |
3 | 97333 | 30.230 |
2 | 2855 | 30.220 |
Price($) | Vol. | No. |
---|---|---|
30.400 | 4747 | 1 |
30.420 | 18718 | 3 |
30.430 | 29099 | 5 |
30.440 | 2820 | 3 |
30.450 | 23015 | 6 |
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