It is my understanding that Soros likes to take the maximum 19.9% position in his ASX resource plays.
Therefore that only leaves two options: 1) He acquires around 7m shares on market NOW. While the price is low.
2) He gives David Prentice more money in a private placement later this year. Unlikely. When RFE raise money later down the track it will be at a higher price for sure and Soros will just take his set allocation of 19.9% of what's offered.
Now that the final shareholdings are out with SPP, placement and options done. We should look for Soros to worst case support the price here or most likely COMMENCE BUYING TO INCREASE HIS STAKE TO 19.9%
His target will be to mop up all the loose stock from the placement and SPP - Will you be selling to one of the world's smartest investors at massive discount to intrinsic value? Didn't think so.
With the buying that he needs to do, if the share price isn't 50c+ within a month I'll eat my words.
Now we haven't even considered macquarie, they're not exactly going to be sellers here are they...........
RFE Price at posting:
41.5¢ Sentiment: LT Buy Disclosure: Held
