RE:shakin' the cupThey understand that GMT combined with other institutional investors have plenty of votes and that in a tight race retail investors can tilt the scales one way or another. So they are not taking any chances and keep posting these press releases.
About the total number of shares GMT can vote, this is from their recent press release:
“As at August 25, 2023, GMT and its joint actors beneficially owned, or controlled or directed, directly or indirectly, 53,238,135 Pipestone Shares, representing approximately 19.03% of the issued and outstanding Pipestone Shares.
GMT's hedge fund and private client managed accounts (the "managed accounts") currently hold an aggregate of 37,675,762 Pipestone Shares representing 13.47% of the issued and outstanding Pipestone Shares. In addition to the Pipestone Shares held by managed accounts of GMT, GMT Exploration Company LLC ("GMT Exploration"), a privately held independent oil and natural gas company that may be considered a joint actor under applicable securities laws, also holds Pipestone Shares. GMT Exploration currently holds 15,562,373 Pipestone Shares representing 5.56% of the issued and outstanding Pipestone Shares. The Pipestone Shares are held by the following hedge fund and private client managed accounts of GMT: Bay Resource Partners LP Bay II Resource Partners LP Bay Resource Partners Offshore Master Fund LP Thomas Claugus”