Bruce13,
This selling has been quite confusing. I have looked at broker data to try to figure it out. In the past week a broker that usually doesn't show up as an active broker in ABU, Pershing Securities, has accounted for approximately 25 million shares of volume. Looking at the data on large reported holdings, I think the most likely canidate to be the primary seller is SUN HUNG KAI wih a reported holding of 40 million shares. According to their website(History) SHK is allied with Allied Properties. Allied owns 24.3% of Tanami Gold.
My theory is that this is the final TAM related selling in ABU. I think that that is the sole reason that ABU has found it hard to rally even after a string of extrodinary positive announcements. I think they have approximately 15 million shares to go, but I also think that it will finally free ABU from the shackles of the TAM and TAM related selling.
I compare ABU with all its peers in AUS. To me it is a clear standout...nothing even close. I think over the next few months we will finally start to see the true value emerge.
My theories and opinions only.
Cheers
how many ounces, page-99
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $6.353M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $779 | 259.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 28 | 15823362 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 23487747 | 25 |
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| Last trade - 10.06am 12/07/2024 (20 minute delay) ? |
| PRX (ASX) Chart |