At least the hot money holdings are getting whittled away & the top 20 is becoming dominated by retail investors. I assume the large BNP holding is for Interactive Brokers retail clients from the account description, the HSBC holding is staying pretty static so doesn't appear to be hot money, the smaller BNP holding looks like one of their in-house investment funds, no idea what their investment strategy & how hot their movements will be but not a huge holding anyway. The only clearly hot money left is CITI/Regal and that is close to exhausted, once that is gone or they decide to sit on a core holding HIO will have an opportunity to consolidate a lower price level base & hopefully grow from there. The growth will of course require some decent positive accomplishments by management but that is not beyond the realms of possibility, at least if we are rid of the hot money we are in with a chance. I don't hold any animosity towards Regal, they provided money the company needed when no-one else would, I am just baffled by their investment strategy - they are clearly crystallising significant losses & it is not as if they are driving the price down by dumping in the hope of rebuying at a lower price than they sold at as they are not rebuying - so what is their game?? Good luck to all - hopefully a bit of patience will reap rewards with this one
HIO Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
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