I don’t believe RCF would put much time into ‘rinsing’ shares but - even if it is doing it, its position as an 18%+ shareholder has been stable for a long time.
And there are plenty of other big holders out there who may be either selling or trading at these levels; We know Regal is into AVL, and Shaw, and Tribeca - all entities who DO play plenty of half pip trading games and - given the ‘limbo’ time frames plus near 9 billion shares - have had plenty of time to acquire iceberg-type holdings and play ‘tiddlywinks’.
Meanwhile, FWIW, the RCF founder - James McClements ( https://resourcecapitalfunds.com/team/james-mcclements/) who has been long time chairman of Mineral Resources (and who actually sold MIN’s lithium deposits to Chris Ellison!) stepped down from Mineral Resources the other day as a result of the current tax scandal there ; https://www.afr. com/companies/mining/minres-board-says-founder-chris-ellison-had-not-acted-with-integrity-20241104-p5knlx
The board of Mineral Resources faces a shareholder backlash after it said managing director Chris Ellison would step aside in 18 months following a review that found he had enriched himself at the company’s expense.
The billionaire MinRes founder’s exit will follow the departure of chairman James McClements, who vowed on Monday to step down in response to revelations about a British Virgin Islands tax scheme Mr Ellison and other senior figures at the company participated in.
The ensuing governance scandal had “significant reputational impact” on the West Australian lithium and iron ore miner, the board confessed. Left to right: MinRes’ James McClements, founder Chris Ellison and L1’s Raphael Lamm. Harry Afentoglou … etc
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