I’ve little doubt Argyle are selling out to zero.. they’re not long term holders, they’re an opportunistic fund that took advantage of a liquidity issue last year and has now made more than 2x on their money.
The issue is that they still have circa 40m shares and buyers have started to dry up despite the tin price move (awaiting confirmation production issues have been resolved?).
Provided the company delivers favourable news flow in the short to mid term I think there’ll be enough buyers come in and absorb what argyle has left - and then we play catch up to the tin price.
You can see below on Argyles sales that they’re pretty indiscriminate about price - they just drip feed out what they can on a daily basis
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