AGM, page-35

To be clear, I cannot confirm it is a fund, and it obviously isn't any of the 'big-fish' as we haven't seen any ASX 'change' announcements as such...

But in saying that, after watching the 'markets' for some 20-odd years now, I'd suggest that 'funds/intos/hedgies' all use 'subsidiaries' and 'nominees' to mask 'accumulation' and/or 'selling' until 'regulations' insist on disclosure, so without any recent 'substantial change' notices (negative and/or positive), I'd suggest there's some 'accumulation' taking place...

For ever 'sale' there must be a 'buyer' and a 'seller' for a transaction to occur...

As harsh as it is, no entity is here (trading/investing) for any other primary-reason than making $$$, and if it's 'permissible' by law, however grey that law may be, they're going to use it, I would if I had their capital resources at my disposal too... I don't like it, but it's the world we've created for ourselves unfortunately...

Load up I reckon, if you can't beat 'em, join 'em..!!

ML