News: NWH NRW Holdings To Support Gascoyne Resources With $12 Mln Loan Facility, page-20

Re: Gascoyne Resources

A 'Change in substantial holding from CBA' was announced on 19 December, 2018 and stated:

• on 11 October, 2017 CBA had 30,674,122 shares (8.13% of issued shares)
• on 18 December, 2018 CBA had 36,213,628 shares (7.03% of issued shares)

During this period, CBA added 5,539,506 shares but its share of the (expanded) issued shares fell to 7.03% ... which piqued my interest.

Recent commentary has suggested that CBA has been a recent buyer of GCY shares but a detailed analysis of the above announcement suggests otherwise:

• on 11 October, 2017 CBA had 30,674,122 shares (8.13%)
• between this date and the CR (28 August, 2018), there was a net increase of 6,867,351 shares
• on 28 August, 2018 (the CR), there was a net increase of 3,879,559 shares
• between the CR and 18 December, 2018 there was a net DECREASE of 5,207,404 shares
• on 18 December, 2018 CBA had 36,213,628 shares (7.03%)

Since the CR (28 August, 2018), CBA only bought shares on 19 September, 2018 (1,000,000) and 29 October, 2018 (3,600,000) while disposing of 9,807,404 shares), a net decrease of 5,207,404 shares.

Seems to me that Gascoyne is 'hanging in there' despite CBA!