if it is glencore selling then that is good news and bad news:
good - open up the register a bit more, more chance of take-over premium going into the share price
bad - why would they sell down unless they want out? if they want out, that is a lot of shares to sell, will put a ceiling on SP for a long time
I suspect it is glencore buying in preparation for 100% ownership and delisting - have done a deal with an insto to buy their parcel, only other option with that many shares might be PJ himself - he has been there 10+ years so maybe he is pulling the pin and selling his shares to glencore
MRE Price at posting:
89.0¢ Sentiment: LT Buy Disclosure: Held
