Would be a bit cautious here at moment. Could be just Greece/Nickel Price fall helping shorters. However could be manipulation behind the scenes. Lanstead dumping stock before the end of the agreement, or maybe an instiution shorting prior to placing after Lanstead expiry. Instutiions would not be agreeing to placing at a price 200-300% higher than it was 2 months ago.
Personally now think with the licence bagged & cash too last a couple of years Robin will prove up more resource & with a year or so's cash behind us will let the interested parties make some serious enquires.
With 20.50 & 18.25 gone it's going lower but then they offered us 2.5p buys last May & look where it went!!
Went up to fast & was always going to on the approval. The stealth ride as mentioned earlier has nearly completed the circuit. I have to say though guys these guys are no champagne Charlies and spend wisely indeed. The 2013 placing & allotment of shares is still & has been drilled into getting that balance up from the last $1 million to the recent finals showing Lanstead payments have topped us right up with more to come. Amc confirmed several months before the licence confirmation that this seasons drilling was already covered & with all fuel and equipment on site it was peanuts compared to the costs being speculated.
Let's not forget these guys have been taking peanuts these last few years.
I'm very comfortable with the cash position indeed. A jv or takeover was always the only option.
I agree as I always say it's a mystery why these guys never borrow at the height but Robin young will dilute unless there's no other way & that he assured me in Nov.
Panic sets on and the next guy wants to close out before the next guy.
That link Gary posted earlier is spot on & is absolutely the case for other miners I have been in. I remember someone once posted it on her & its definitely worth using.
Tread carefully Zoe. It may well be that the re-trace in price is not yet complete. Watch and learn. Why buy at a higher price than you need have done. Even if you miss the bottom, better to buy on a rising trend than on a falling one.
They could only raise at a price people are prepared to subscribe to a placing at - if and when one comes. Not sure about TEA being a bucket shop as its app isn't even operational yet - got a small punt in there from 3p for a bit of fun as mainly been in cash for past 6 weeks or so having cashed in all my main market positions.
That has been a simply awful day for AMC. Watching the trading it was being pushed down relentlessly all day even into the very end. There are a few reasons for this. First problem has been timing. The license award could not have arrived at a worst time really. It has landed in a nervy market with no much going on in AIM. The initial rise caught alot of the pros and market makers by surprise. The subsequent rise due to the limited free float was far too rapid and has attracted the usual carpet baggers. The rise is now collapsing back post the last RNS. Why? First problem is the RNS has left no short term targets and has confused the PFS/financing by producing a n ew unexpected document into the flow. This opened a window to safely attack the share once momentum stalled post the PEA RNS. As the fast money has exited with the carpet bags full (leaving some late comers now spiked in), many long term holders have participated in the frenzy (can't blame those who hav ebeen here several years and undured the stress of the past 2 years alone) and I would be pretty certain Lanstead have been involved in helping to oil the slope. Once the move down was generated it becomes self fueling and looking at the trading dates alot of the moves in the last few days could be a squeeze on T traders and those on margin. The Greece situation has also added to the mix to enable fear to be easily instilled. Todays trading has left this looking very like activity I saw on Baobab 2 years ago.
What will break this cycle? Well it depends very much now on who has been persistently pushing this down and whether some of the long termers who sold now close and enjoy a free carry. At a couple of points today they looked like they might be ceasing and clsoing. It is not naked shorting (in my opinion) - it however looks like long/short/long type hedge fund trading strategies being executed by a mix of retail investors and others.
Now for the positive. If you have now been spiked in. Do not despair. It has probably happened to most at some time. This share has been down pretty low in the past and the company is run by an excellent and unselfish management team who will work very hard to get the best result here. Their interests are fully aligned to all long term shareholders. They are funded for the short term. The difficult bit is the next bit - getting a deal. RY clearly thinks proving up more resources is what is needed. Every drill so far has found more and more.
To those verging on gloating and the clever technical people who call I told you so - on another day you might not be as clever as what you think as the market does not always behave as you expect and even you can be wrong footed by events. We can all learn from this share and what has happened. The AMC story has a little way to run just yet.
bod should have raised when sp was high but sense something in the offing given the correction today. also nickel 6 month chart not looking good, further falls coming off high $7 to $4.7 today. no rush to get in here as drilling won't be cheap. lots of big buyers sub 5p still here offloading en masse. price action like this usually points to a discounted placed and one is long overdue. PI's should curtail their excitement, the big boys always win. dirty bucket shops like tea probably already in. nice to see them losing over at xtr for once.
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