I also find it very interesting that Dr Neesham opted to both acquire and then exercise such a large chunk of options prematurely when they have 12 months on them and are well into the money. Noting as others have done that while options provide great financial leverage, they do not provide their holder with voting rights, influence to the board, or eligibility for placements.
Also very interesting that a number of HC posters reported calls from brokers in the last two weeks. In my humble experience, this usually means something is afoot and someone significant is building a position or something significant is brewing.
I have been back over top 20 holdings and changes since the annual report in September. Our top 20 looked like this at the time with Pacton Gold (HSBC) holding 164,035,075 shares @ 7.16% (having reduced from 187,892,11 @ 8.21% at June 30), and Kitara Investments with 118,759,078 @ 5.19% at 11th September (having increased their position via placement 5th September from 4.60% June 30), UBS in third with 4.02% and Dr Neesham sitting in 4th place with 79,600,000 shares as June 30 and remained below 5% at 11 September based on heads holdings.
Dr Neesham has been acquiring significantly more OAs since then as he only held 89,000,000 OAs as June 30 so has acquired atleast 53,715,667 OAs on market.
So enter Dr Neesham's additional 142,715,667 shares yesterday plus his previously held 79,600,000 shares as at June 30 (setting aside any heads he has acquired on market or via placement since then). Based on the current number of shares on issue at 2,631,808,175 Dr Neesham now holds a minimum of 8.45% of Raiden and likely becomes our #1 holder.
Doing this on the day of the AGM suggests both his significant confidence in our board and their immediate plans, perhaps recognising someone of significance at the AGM, or whispers of something afoot.
I wonder if the brokers have been calling him...
And our board are happy (and appreciative) with another $2m in the coffers to get stuck into drilling.
I also wonder what Pacton Gold (HSBC) and Kitara Investments (Tolga Kumova) will think of being bumped down the holders list...
(20min delay)