I think they are cashing in, it will be a placement, but I don't know for a fact.
And as Yak said it doesn't really matter what we think while it is in trading halt, they will make an announcement and then it will reopen so there is no real advantage knowing beforehand.
To use the Xmas analogy again, some kids just have to peek at their presents before Xmas morning but it doesn't mean they can play with them till then.
AUM
australian mining investments limited