Don't know about that ......By the look of the ASX substantial...

Don't know about that ......

By the look of the ASX substantial notice put out today on PLS , JP Morgan at least looks as though they are indeed standing behind their early August ' BUY Everything ' Lithium call by taking up these 184,383,687 shares or 6.28% stake which appears to be more than that of the entire MIN divestiture which was announced only 2 days ago.

Interesting as well that given the obvious ' dilution ' effect of the Sayona register since the 1 for 6 rights issue that apart from Piedmont who held it's original 9.38% stake from January and now around 19.9% stake , that there are no others who hold over the 5% strategic and qualifying substantial holders initial balance.

So what we had and what I presume we still have is a ' basket ' of institutional holders who hold between 2 and 4% only. And this includes JP Morgan who were our 2nd Top Insto holder who was sitting on 2.69% and just behind our No. 1 holder Citicorp Nominees with their 2.88% at 31st January 2021.....and with BOTH taking accumulating between 54 and 283% more by the time the revised Top 20 was released on 6th May 2021.

So that at least tells me that in order for JUST 2 Insto's to move towards the initial 5% substantial holder threshold , that anywhere from 120 - 250 million shares would have to be added to any one of their estimated current positions....and since we haven't seen a Change in substantial notice being put out by Sayona , I can only assume that there is still substantially more room for this to happen at some stage given what we have seen by JP Morgan and their move on PLS.

So good times ahead I would think in regards to the further tightening and control of the Sayona share register by the Top Holders. And why wouldn't you when you know that Piedmont is sitting on just under 20%.