Hot Copper is alive with conspiracy theories. Most involve why the price of the particular share being talked about has not galloped north. The proposition you put forward was wrong. I know the people associated with NCZ and they don't give a toss what we do at RVR, they have their own company to run.
Our share price has been held down by unrelenting selling by one or more shareholders who have their shares held through a nominee. If you look at page 76 of our annual report you will see that seven of our top ten holders are nominee companies and that they control a total of 31.36% of our shares. Now look immediately below the Top Twenty list and you will see the list of Substantial Shareholders, Tribeca Investments, Contango Asset Management and Ausbil , these three control 17.27% of RVR and yet they are nowhere to be seen on the top twenty list. These three hold their shares in one or more of the aforementioned nominee companies. Even RVR does not know where the shares of those three substantial holders are held because the nominee companies are under no obligation to tell RVR who they hold shares for. Another stunning piece of stupidity by the ASX is that the nominee companies are also under no obligation to tell the ASX who they hold shares for. In fact we only know about those three Substantial Shareholders because they sent a notice to RVR advising them of the fact!!
This leaves RVR wondering who is selling because they can not find out!!! Was it one of those three or was it a Substantial Shareholder who just ignored the rules but would be unlikely to ever be found out? Lets hope that RVR receives a notice that one of the three is no longer a Substantial Investor. Then our questions will be answered.
Welcome to the more opaque side of the share market.
I hope this expands on "No" which would rate as one of my less informative posts.
