In the month of June, approximately 60 million TRY shares were traded on ASX and CHI-X.
View attachment 1639870John Jones indirect holding sold roughly 3.2 million shares for whatever reasons. It can't be the reason for the fall or no growth in the share price in-spite of gold's stellar run.
There has to be a hell lot more sellers in that month.
Some of them would have sold for TAX reasons.
From my enquiry the biggest seller was Eduardo Elzstain, who was just under 5%, so no need for substantial holder notice.
The continued selling in July would be coming from people who fear some bad news on the way, because of John Jones indirect entity selling( As from previous experience). I tend to not think that way.
Some entity have bought all those shares. With that sort of volume (60 million) the share price would have collapsed but instead has held steady.
RAMcap is onto it again. They are not a substantial shareholder and they won't get the majority to remove John Jones. The major shareholders like Ruffer and M& G have backed the directors, unless they decide to remove in the next annual general meeting.
I would urge RAMcap to let the now management to do their job rather then creating distractions. The now management have done a fine job since early 2017. Debt nearly paid off, the Karouni mill is paid, trade creditors drastically reduced to under 20 million. Ohio Creek discovery. The market is yet to appreciate this achievement because of past history. Once the positive cash flow generated is aggressively spent on drilling and increasing LOM, that's when people will start taking notice.......a few months away.
I am still holding tight and expecting share price to double from here in the next 12 months.
