Lithium explorer Green Technology Metals has spent four lucrative days on the ASX. It spent most of Monday at 40¢, which is some 60 per cent above the 25¢ it listed at on Wednesday.
That’s very good news for shareholders. And the filed notice of the company’s top 20 of them, as of November 4, isn’t short of interesting names.
Coming in right at No. 20 (with 800,000 shares worth $328,000) is one Hans Mende, the US-based billionaire coal investor and American Metals and Coal International co-founder. AMCI managing director Patrick Murphy is on the board (and holds 2 million shares worth $800,000), which perhaps explains how Mende got involved.
Further up the list, three more names stand out: Reginald Spencer (with 1 million shares worth $400,000), Timothy McCormack (with 2 million) and Digby Gilmour (with 2.6 million shares, or 1.3 per cent of the company worth $1 million).
Spencer and McCormack are mining analysts at Canaccord Genuity and Gilmour is Canaccord’s executive director of institutional sales.
Canaccord was one of two joint lead managers on the non-underwritten raising (with Bell Potter) and earned a 3 per cent fee (and plenty of options) for its trouble.
But it’s understood all three took part in one of the company’s early funding rounds well before Canaccord secured its mandate (meaning they didn’t take up any of the shares it offered in the float). Forget a 60 per cent return: their capital gains would be far higher than that
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