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$1.07 maca limited

Nordesmic, just checked your info on the re-balancing by funds...

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ainsleym

6,104 Posts.

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21/03/20

07:21

Post #: 43617276
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Originally posted by nordesmic: ↑

I don't think it was a distressed sale. The rules of many funds and ETFs is that they must rebalance their holdings in the closing auction on the third Friday of the quarter end month i.e. today. It could have been exacerbated if short sellers knew that the big sale was coming in the auction.

Nothing has come out from Regis, Ramelius about cessation of mining. Blackham said today that they had no impact on operations. Operations at mines will go on, it will be non-operational and construction tasks that get postponed if mining companies start curtailing activities for risk management. Importantly most of Maca's work is related to gold and iron ore which are two of the more resilient commodities to date, particularly with the A$ as you mentioned.

Not sure about the First Quantum contract. I'd be most concerned about that with nickel falling off a cliff lately.

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Nordesmic, just checked your info on the re-balancing by funds and you are quite right, 3rd Friday at Auction time, each Quarter. I never knew this, I always assumed funds would rebalance on an as and when needed basis. What a dumb-ass ASX regulation to require this in Auction time when significant price distortions are likely as a consequence.

MLD Price at posting: 52.5¢ Sentiment: Hold Disclosure: Held
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