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No doubt some "early buyout" speculators are selling in small volumes because the NR and PP signal alternate pathway forward. But look at the six month chart and no, on virtually irrelevant volumes the sell-down is not "the SP tanking." Latest news is Rio Tinto and Mongolia have settled their management fees/tax disputes. The main narrative here is they don't want to delay mining HNE because it will bump the profitability of OT substantially. And the PP positions ETG to move forward in turbulent markets secure with liquidity to support approvals of conversion of the JV (with HCU and SSL on board - I'm guessing SSL is the other PP participant) then surely move on to seeing whether HCU wants to redeem out their shareholdings for an OT royalty stream, and then test the market to sell off the rest.
Like I said before, let it play out. Management has done very well for themselves, true, but what would any of us do differently? cg
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