TRY (ASX) Why Elsztain bought TRY shares?

Originally posted by salavat ↑

IMHO
he bought them because he is going to pay for 19% or 10% for Casporo project, as indicated (from Sydney`s post) in:

Transaction overview
The Company and Troy entered into an Implementation Deed whereby the Company:

will immediately acquire a 51% economic interest in Casposo for US$1 million;

will be entitled to acquire a further 19% economic interest in Casposo for US$1 million paid within 12 months;

has options to acquire the remaining 30% as follows:

10% for US$1,500,000 in 3 years;

10% for US$2,500,000 in 4 years; and

10% for US$3,000,000 in 5 years.

He accumulated 22million between 10c and 7c. SP moved two days ago on news about interest change and it will move up again after transaction. He is paying for Casporo to TRY in which he has shares i.e. he is paying to himself.

This scenario may repeat and repeat again: accumulation, change interest, SP going up, transaction, SP up again and so on.
He will get 15%-20% interest in TRY till last transaction done. At the end the first parcels of shares will be free of charge for him.
If he will decide to take over TRY it may happen after all transactions done for Casporo.

IT`s worth to wait the last transaction.

Just opinion.

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@salavat

You nailed it!
I worked this out the moment I saw Mr. Elzstain notice came up.
I mean it does not take rocket science to add that up.
He basically will make the Casposo payment from the profit of TRY shares, and that also
would be a payment to himself in some degree , some percentage.
Anyway very smart move. Wish I was that clever.
With that payment TRY would somehow avoid a cap raise and the share price can appreciate accordingly.
These people play a long game.
I wonder if the whole blunder after blunder thing was a set up, since early 2016.
Anyway if Mr. Elzstain gains more control, I'm not sure if ordinary retail shareholders can benefit.
Shareholder at AGD where he has almost 80% control haven't enjoyed any upside.
At the end, us retail share holders are the losers.

If I was sitting on profit, I would be cashing now......as TRY's problem are far from over.