insto traders

Couple of interesting things:

1) the bot is back ... and given the increase in SP I'm going to go out on a limb and say he's on the buy side. check out todays course of sales - you'll see what I mean.

2) I was interested to see which instos have been in/out/kicking the share price round so I got a couple of top50 shareholder reports from late may and late june.

Looks to me that UBS and JP Morgan dumped a couple of million stock each over the month.

Almost all the other holders held or increased their holdings - and both listings represent just under 40% of the issued stock.

My interpretation is that either two instos dumped their stock and a whole rack of smaller shareholders ran for cover .. or a whole rack of smaller shareholders dumped their placement stock and the instos ran for cover.

The question that is bothering me though is with the line of news for the next three months why did the 2 instos dump their stock? Possible reasons are
- delays in drilling
- flow rate declines
- production coming in slightly under budget
But to my mind none of that adds up to a 40% discount (ie $0.90 odd to $0.60 odd)

I wonder if they wanted them off their balance sheets come June 30? and if so ... will they now want them back???