A 24 million share MET cross-trade took place at 60 cents on Friday. Not sure who bought, or if this was just a transfer between accounts of the same holder.
Only two shareholders have that quantity of shares to sell - UBS Wealth Management and DGR.
The recent MET presentation suggests to me that MET is seeking funds. Not sure if DGR can take up more shares given that it only had $4.6m cash at end September 2010.
There is the potential for some serious dilution of DGR's interest in MET if they sold 24 million shares, and further dilution from a capital raising.
Interesting properties DGR is playing with. I am sticking with MET 'cause I stuffed up on my small AMX investment back in 2009 and want what I missed out.
MET has a long way to go to prove up a reserve, but its initial results are very encouraging.
loki (holding MET, but not DGR at this stage)
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