why no movement, page-2

Hi Misterturtle...I know what you're saying and I agree. In fact the turnover data on my broker charts doesn't show those large deals yesterday either (which were for around 10% of the capital of RHI).

In any event, the sub shareholder notice that has now been released tells us something. That is, Acorn Capital were the buyers on behalf of a string of medium sized superfunds. It is just this kind of allocation to an outside manager, that the superfunds expect to provide them with their excess returns over the index benchmarks. Therefore, I see it as very bullish for RHI.

It must have taken Acorn a while to negotiate the purchase of such a big holding and I am going to be interested to see who the seller was. My expectation is that POSCO was the seller. They acquired a holding of close to 9%-10% in Red Hill Iron from AMCI several years ago when AMCI sold a 49% interest in the West Pilbara Iron Ore JV to POSCO.

It is probably not seen by POSCO to be strategic so they were prepared to sell. I imagine that Acorn or their broker, or both would have twisted their arm to sell. Let's wait and see the other sub shareholder notice when it comes out.

regards
DF