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"They wen't able to get the sp lower without throwing those 12...

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h00ts

46,638 Posts.

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22/07/14

09:57

Post #: 13694084
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Originally posted by BRETTO50 ↑

Buddy

m&g 's whole and sole reason for selling up and shorting at the same time was to jam the sp as low as
they possibly could.No other reason.
Any other explanations are cover ups why it was done.
That's why they kept their last 12 million shares and either stored them or sold them to someone else
that could use them later.
They wen't able to get the sp lower without throwing those 12 million away.
So they made sure they were kept to be used later to keep the so as low as they could
while finances were being finalised.
When the jorc was released in Aug 2010 the brokers etc were ready.
Within 2 months xstrata get a report from their geologist saying Rocklands is the best of all the tenements in the area.
Same month m&g jump in to 'save CDU'.
The traders on here that tell me about the info they require about the resource and finances and profitability
seem to brush aside that m&g went into CDU without any of that info officially
released and 2months after a jorc they say informs them there is very little copper there.
Why did they go in ????????
Why did they want to get more off CDU ???
Why were they willing to pay more on market and were heading up to 19.9% if they could.
Then the Chinese are in and they carne get a controlling interest.
So they opt to get out and chose a time when they think finances are strained (as many traders on here were saying).
So now they are using the last of the shares to stop CDU raising money easily and hoping by putting extra
finances on them (rail) they could have still had a chance to make an offer.
I agree with the traders here.It is too late for them.
I look forward to seeing if I was correct when (if) we have a spike in sp after sales.
Will the 9.5 million go to market to cover?
Or do they have them there to cover already?
I am interested to see how ozl and the anz get out of SFR .
Might be a race??

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"They wen't able to get the sp lower without throwing those 12 million away."

This is also incorrect !! they sold 22m shares on market prior to selling the remaining 12m - the share price had allready fallen from just under $5 to $1.56 on the day they sold the last 12m shares in an off market trade. that was also the last traded price.

CDU Price at posting: $1.77 Sentiment: None Disclosure: Not Held
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