POS (ASX) BNYM/Pershing Takes major stake in POS

Originally posted by Jack_a_Hearts ↑

This is simply not true !!

So you are getting excited about a secret deal that you were smart enough to work out but others were too stupid to read? All hidden in the recent 3B, eh?

For the record, here's the extract from the 3B you are referring to as being the special deal POS has supposedly done...

"20,000,000 Shares
Placement of Shares to professional and sophisticated investor clients of Pershing Australia Nominees Pty Ltd. Funds raised will be applied to care & maintenance programs.
The Issue of Shares rather than cash payments results in the preservation of cash resources."

That was the paragraph from the 3B that got you all excited and prompted you to post a lengthy fantasy, correct?

Only one thing wrong with that dream of them getting on board with POS and taking a 3% position with the 20 million shares.

Here are two extracts from the two previous cash raising by POS in October 2015 and January 2016.

October 2015:

"14,300,000 fully paid Ordinary Shares
Placement of Shares to professional and sophisticated investor clients of Pershing Australia Nominees Pty Ltd. Funds raised will be applied to care & maintenance programs."

January 2016:

"16,200,000 fully paid Ordinary Shares
Placement of S you note that each announcment says the stock is being placed withhares to professional and sophisticated investor clients of Pershing Australia Nominees Pty Ltd. Funds raised will be applied to care & maintenance programs."

The simple reason they are using Pershing to take stock is they NEED the cash to stay afloat, no other reason. You will also note that each announcement states the stock is going to professional and sophisticated clients of Pershing, so you can guess where that stock was going shortly after it was allocated. I am also VERY surprised that you never noticed any of this from the previous 3B's, as you claim to be very astute and the rest of us following POS are merely a motley crew with no idea how to read a 3B (your inference).

Seems to make your statements from your post rather fanciful, wouldn't you agree and could be the reason why POS did not, in your words:

" why didnt POS shout this in flouro lights from Fortescue tower?
- why didnt they PR the heck out of this major new investor & issue separate announcements
- why didnt the parrot or NH start squaking their hearts out how POS has received the backing of one of the largest and greatest US funds/lenders?"

Don't get me started on all the other bullet points in your post as the facts blow them all out of the water.

Pershing are providing a service to POS, which keeps POS afloat. If Pershing didn't do it, they would have to find another provider. For that service they will receive a fee and with a tickle of the share price get a percentage gain in quick time for themselves and their clients. A fairly common occurrence for any company that backs a CR

No doubt that armed with this "new information", although most of us have known for 6 months, you will come up with yet another story of how Pershing are helping POS to become the next nickel giant.

We wait with interest and I'm sure you wont let us down.

Expand

Nicely written, Jack.

It sounds like you too have misplaced your tin-foil hat. Actual reality is so much more mundane than super duper secret plots hatched by MIS (Men In Black Spacesuits)! (lol)

Looks like it's back to The TB Cleansing Diet^® for me...

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(20min delay)
Last 0.4¢		Change 0.000(0.00%)		Mkt cap ! $14.85M

Open	High	Low	Value	Volume
0.5¢	0.5¢	0.4¢	$308	68.78K

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