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78.0¢ avz minerals limited

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qball

5,054 Posts.

2464

16/06/20

13:14

Post #: 45249735
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Originally posted by Chillaxed ↑

It’s very easy to see that Global X is the seller.

They are selling off their other AU listed shares as well, rebalancing the ETF.

Could be because of the strengthening AUD reducing the carrying value of these investments.....particularly if they see the AUD continuing to gain against the USD.

The good story is the selling is nothing to do specifically with AVZ and it’s progress.

The bad story is they probably still have a few more to sell......so sell pressure will remain until they are done.

On the positive side......the selling is being soaked quite nicely.......and once they are done.....any news on the Offtakes should provide a strong uplift into a new base until finance is updated.

All IMO

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Some savvy buyer looks set to pick up a stack at 0.051. Once Global X are done (for whatever stupid shortsighted reason they are selling) the march back up will happen. Wish I had a few spare million dollars to have bought out their stake.

Last edited by qball: 16/06/20

AVZ Price at posting: 5.2¢ Sentiment: Buy Disclosure: Held
16 Upvote

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