Re: Ann Expiry of Unsolicited TGM offer, page-14

(Haha, yes the old LM3 story hey.)

Yes it may be an old story, but the facts are there.
As of 24/12/21 LM3 beneficiaries still own 15.451 million shares in FML, which are slowly falling. In the full year of 2021 they sold off 4.430 million shares. This suggests the family just want to cash in their chips but at a price acceptable to them.
The FML share price history over 2021 was as high as 0.41 cents with a low of 0.24 cents, average 0.27cents.
To your question, it is simple to drip feed their shares that triggers a sale at 0.25 cents or above. How else could they sell 4.5 million shares in a year without causing a massive price drop. This is also the reason why we see no sustainable increases above this number.
If anyone has another theory of why 6.1 million oz in the ground is worth only 0.25 cents a share, please, please share with us mushrooms.