I'd mentioned this a month or so ago when I'd spotted that UBS had sold 39m according to Bloomberg Terminal.. As of the end of March 2023.
IMO -This is the reason: https://www.reuters.com/business/financ ... 023-06-19/
UBS are on the hunt for any liquidity and needed to raise funds now to cover circa $500m in Credit Suisse fines expected at the end of July. Ouch!
So far they have raised just $35m Plus they were just fined $1m yesterday for something else.
Anyhow some of you may have noticed we have a major buyer also...
Almost daily now since 6.4p was hit ( and TBF in the days prior to that also) we have multiple stealth 1m size buy trades in big 100000 round number trades...
Usually mid morning sometimes two or three a day, in concert , with Maximum FUD on various chanels - its going to 5p etc.
I swear 1/2 the FUDDERS are actually just bent market maker proxies trying to create a market for their clients.
Of course - it would be no good if GGP holders just sat on their hands.. would it? Feck no we need to shake em to bits... smash em off the walls... you know.
I have no evidence for this but our 1-2m a day buyer is persistent and operating in a very similar way to the buying that took place before Ned Naylor Leyland Jupiter gold and silver fund announced a 75m holding ...
IMO - Once pulling the GGP trigger there was no way Ned was sitting at just 0.8% of his fund allocated to GGP - no, this was always going to be a 1-2% position maybe even 3%
He knows gold breaks out massively toward the end of the year and what a story.... to get into just before the buying associated with the ASX...