Harry - suspect it's little more than the MMs creating a market by discounting both the bid and the offer to attract business for themselves without getting caught with their trousers down, and having a balanced book at the end of the day.
They have been at it for a long, LONG time. Here & elsewhere. Promise the earth and deliver little but anti-climax and disappointment and under achievement. More fool us for being conned into investing at such high values like 18p. Even if they found a buyer for the Company tomorrow I very much doubt they'd pay more than 10-15p per share given how many shares are now in circulation. The current CEO has been involved with something like 25 Companies (can't remember the exact number) that have been dissolved. Tells you much.
Invested 10K at 18p over 3 years ago here and should have spent it on a great holiday .... this is a dead duck. Is the BOD's behaviour actually legal? I guess in a free society, there'll always be the odd rogue. After the panic to raise money and push share price last year, one now asks "is our money simply lining the pockets of director's wages?" Can ANYONE explain the intentions of this company?
good luck with your punt harry. I'm not a trader. More a long-term holder thinking/hoping I've done my research. But given my time again I'd have done the opposite. AIM seems to be full of companies that are great at the hype and jam tomorrow type updates and rarely deliver the goods. Hard to do research if you are being 'professionally' misled.
gwmo and lnd seem to have one thing in common. Their sp is on the floor, so you'd like to think they can only improve. With LND it is surely coming to an end game? They can't keep on digging forever and raising funds to do so on the promise of the sun shining tomorrow.
What do you think about Great Western Mining GWMO? I was in there last year and thankfully still managed to sell at a decent profit, even after the maiden JORC news came out which wasn't received as well as expected. Been watching since then and now believe it may have turned from its bottom. News yesterday makes me think they are now fast tracking all their efforts into establishing M2 in the immediate future? Took a punt at 0.57 a few mins ago to test the water! Holiday payed for now so another speculative gamble has caught my eye!
What has happened to LND over past 48 hours is frankly typical of many AIM stock. I strongly suspect the 1.6 million was a buy as the published offer hasn't dropped. Just the bid with the obvious sell trades today. The spot price of Nickel is getting embarrassingly low (now unprofitable to mine from new set-up). But there again it looks like Palladium & Platinum are what LND are pinning their immediate future on. Having followed this from Day One and been it's biggest critic I still perversely believe there's a reasonable chance that they could hit the jackpot with an offer made very soon to take the Company over. If that happens it would immediately trade at the acquisition offer when AIM traded the following day. You'd have to be in it to win it if you follow me.
Whatever, it'll be an interesting few weeks/months. S*** or b*** time soon. IMHO.
The 150000 was mine. I saw it drop on just 2 x 50000 sells so made a decision to de risk some. My sell knocked it down further so I'm a bit worried about that. The large buy (?) yesterday did nothing to the sp and yet 250000 sold drops the sp 3%? I'm here for the gamble but needed to ensure I have money for my holiday next week!!
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