It might be boring to a non holder with a SELL recommendation, but it is fascinating to a share holder like myself when weighed against the back drop of a number of things appearing 'Not Quite Right' (NQR) with Cudeco.
The company has more copper in the ground than either SFR or RXM and a jorc compliant resource boasting more confidence than the other two - (ie Measured and Indicated verses Indicated (SFR) verses Inferred (RXM) - and the most advanced and potentially most profitable project to boot, and yet the market apathy towards the company is appalling.
Also don't forget that we have had the Dundee/Goodman sell down last year to explain some of the drops in holdings. So it is this year's action that we need to concentrate on.
Since early May, the Top 30 percentages of the NOMINEE ENTITIES, when combined, has been very stable despite individual fluctuations. And we all know that the faceless NOMINEE ENTITIES help each other out corporately from time to time, so why wouldn't they be playing "pass the parcel" if that activity would suit a particular agenda they may have.
So it is only healthy to wonder about what is really going on here?
Take for instance the ANZ sell down recently.
On the day they disposed of nearly 650 Th shares, a new holding by JP Morgan (a Cash Account as per their entry in the table above) appears for the first time the very next day, and it contains about the same number of shares. And then ANZ have all but replaced all of the shares through additional buying over the ensuing days, while JP Morgan retained their new holding as well. Just another coincidence eh!
And then we have Warbont Nomiees appearing at precisely the same time that a comparatively new entrant in the Top 30, Brispot Nominees, disappears from view.
It is probably just another coincidence I know, but as per previous commentary, let's not forget that both Brispot Nominees and Warbont Nominees are both subsidiaries of the UBS Group. They have also been active on the register with churning of the stock, as have UBS Nominees who never seem to appear at the Top of the register.
The 'UBS Wealth' holding does appear towards the bottom of the Top 30, and unusually compared to the other UBS subsidiaries, it remains quite static.
Again, all of the above is probably nothing to worry about....lol....but it is a little bit odd when you think about.
Zedster, I have another question for you,
"What do you think the Warbont Nominees holding will look like on Monday 20th, following their rather surprising appearance on Friday 17th?"
Cheers Nev
CDU Price at posting:
$2.00 Sentiment: LT Buy Disclosure: Held
