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22:16
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Originally posted by Bonnie73
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Interesting thoughts Longreach. Does anyone have a top 20 shareholder list that's up to date? I was looking in the annual report where it would normally be published but couldn't see it. My sense is that there is a large proportion of shares in SFG which are tightly held or can't be sold (+/- 50% to directors including Nissui, and then maybe another 30+% of holders with over 1 million shares that have no intention of selling any time soon). I suspect this stock is still mostly unknown/under the radar for some very wealthy SMSF's but once they get wind of the story, (as I was lucky enough through a friend of a friend who knows a friend who knows the directors about a year ago) they will want in because its just such a great story. Maybe they've been waiting for it to drop back but as it doesn't then fear of missing out comes in and they will pay what they have to pay for a piece of the action. Always supply and demand - people now wanting significant volume but only small players selling so the price goes up. When I put in a bid for 800K shares back in June at 8c I caused the price to jump by almost 1c. Volumes have still been relatively small. I suspect it will pause around 20c until next substantive announcement but then charge again.
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I was going to refer you to the latest Annual Bonnie, of last week, then noticed it say Top 20 as at 31 July 2017 - I imagine that's a misprint, but I could be wrong! According to that report to qualify to be number 20 you needed 6.8 million shares!
(20min delay)
