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Was this divestment balancing in the public domain beforehand.It...

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ww2zombie

485 Posts.

01/05/17

16:13

Post #: 24387252
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Originally posted by TechWreck ↑

I really don't know, to be honest. The Saracen proposed divestment is 31.3m out of 783m shares, or roughly 4%. BDR proposed divestment is 101m shares out of 1.3B on issue, or about 7.8%, so the SAR divestment is one-half the quantity (depending upon rate?) of the BDR divestment, so my assumption is that the affect upon SAR is about half the effect upon BDR. This can of course change depending upon the rate of divestment. If Van Eck has acquired 12m SAR shares in the last 3 weeks, it indicates some need to buy where the sp has dropped well below the "sell zone" of $1.08 (as at April 12). The possible answer is that Van Eck does not wish to sell at a loss at $0.87, and is bottom feeding.

I don't know, I haven't researched Saracen at all, and this is purely guesswork!

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Was this divestment balancing in the public domain beforehand.It wouldd have been handy to know about it

BDR Price at posting: 21.0¢ Sentiment: Hold Disclosure: Held
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