We’re initiating a position in Oz Minerals (OZL) into recent weakness. We view the recent correction as an opportunity to initiate a position with the view of increasing it over time.
MM are buying OZL in the Flagship growth Portfolio, allocating 4% around $18.70
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We are adding to our existing position in IGO Limited (IGO). We had flagged an addition below $10, however we have elected to increase this level to be below $10.30.
MM are increasing IGO in the Flagship Growth Portfolio, allocating 1% around $10.23
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We are selling our holding in Treasury Wines (TWE) using it as a funding vehicle. Both OZL and IGO have pulled back aggressively while TWE has shown defensive qualities and remained resilient. Importantly, this is not a negative call on TWE, simply a relative call of where we see best upside from current levels.
MM are selling TWE in the Flagship Growth Portfolio, for a small profit around $11.50
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