In all my years trading I have never seen a placing above the share price at the time. The placing price can be fairly close (perhaps 18 to 20p in this case) but can also be significantly lower.
This project is a long, long way from extracting the product and the institutions have plenty of time to buy at a price to suit them, NOT the company. SXX is not the only decent investment out there! I think talk of 35p is nonsense, but we will soon see.
Now we have Citytrader2's Ying to TC42's Yang. Same person having a conversation to themselves.
Of course we all know that TC42 will be wrong and never be seen on here again and Citytrader2 will have established some kudos amongst the board. Then the real deramping starts from this poster, subtle to cause doubt whilst establishing trust.
Its just so funny watching it - its hilarious.
I am sure all the regulars on here can see it - its just the newbies who can't. Still, a fool and their money and all that.
Buy and hold for the short, medium and long folks. Winner here for every term.
Citytrader - I accept that it would be hard to buy 400m at 22p. It may also be difficult to sell 400m at 22p. I do think that the company will sell at a small discount in order to raise sufficient funds. I could be wrong of course, it has happened before;)
I won't despair if I am wrong, as I have no position currently, but I will return for my humble pie...
I'm hardly driving the price down. I am just pretty neutral on this share at this level for the moment. I certainly wouldn't short this, as there is a risk of a deal which drives the price up. The board appears to me to be full of people who have fallen in love with the stock, and have let go of rationality, hence a neutral view is seen as a deramp.
Fortunately the placing/issue is happening pretty soon so we will be able to see who is right.
You sound sensible enough, but are you actually saying the company will give a discounted placing to the current share price. You will never get 400m shares uplifted at 22, that you know already, so a institution wanting a long term holding in SXX will be perfectly willing to uplift 400m at 35.00, they are not looking at a 6 month investment, more like a 5 year rolling review on this type of miner.
Still one of us will be happy this week, you can have full boasting rights if you think this is being forward sold at 20, but any 30 - 35 range, and you will be in despair no doubt.
Come on TC we can all see here that you are a trader trying hard to drive the price down. it really is not that hard. How do you expect regulars here to take you seriously when you offer nothing to back up anything that you have to say? You really are just wasting your time.
Zak Mir hinted at 35p, Liberum have hinted at a placing at this level too. It is not rocket science. Good effort on your part and we can all see you are having a bl00dy good go at it kid - and if I was trading it like you, I would more than likely have a go at deramping it.
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