And I am learning all the time. But, I found liquidity problems with IOG this morning and it seemed that i was not alone, so clearly whilst plenty were selling at panic prices, the MMs were not selling on.
I was trying to buy £20k and then tried reducing amounts but no luck.
My question is - and I thought about buying here at just over a penny but did not due to still learning. How much liquidity is there in a share like Excite in it's current predicament? I have no idea.
Can I buy x for £20k or £50k and can I sell an increased y for a proportionate profit? Or is the liquidity not there? I understand the spread can be significant and can factor that in but not being able to buy or sell shares, in a market that has supposed liquidity, worries me.
"This stuff" might just be the one that breaks surface bonker, simply because of the very large retail interest and the fact that the OGA are newly installed regulators who will want to avoid a big stink just as they start. This could be a big political event yet.
More likely scenario is to pressure the bondholders to greatly improve their offer. Miss by them of the acceptance vote at the egm opens up a can of worms in attempting to divest the asset and sell it away. They have to declare default on Xer which oga would love re quad 9. Consensus would win, aggro problems.
I'm ignoring the bondholder/vote thing entirely mate so I'm unable to accept the premise of your argument but I understand why you're making it :)
I have my own perspective on this which I advise nobody else take on board :)
I'm perfectly "happy" to lose the lot but nobody else will be and that's obviously fine ;)
I could talk about why the "bidder(s)" could magically appear now but I've said enough already I think ;)
It's not double or nothing, it's 10-1 ("standard" top target on any chart from the ultimate low) from a penny hence my buying this week to secure a couple of grand's worth at a 1.3p average with much larger orders in much further down that may, or may not, ever fire depending on how this pans out ...
Why 10p? Cos that makes the entire company, huge field (since flow-proven and RAR-expanded), other block licences, £800m tax breaks, "debt" and all yours for a snip @ c£130m.
Debt is in quotes because of who the bondholder that XEL's shareholders have been paying all along may be - a nice little earner if you want to see it that way, talk about back scratching par excellence .......
I warned in here of what the TSX dislocation portended at Xmas last year - they may actually have enforced rules over there, hence .......
Add in another SP-rocking RNS on the last day of the month/quarter *AGAIN* and, well, I could go on and on but I won't ;)
It's on-rails from here mate as it has been since day one ...
If this stuff ever breaks open into the public domain properly then it could be legendary ;)
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