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Yes, it's the right lot size. Larger trades get priced up or no trade refer to dealer. The market size for ACP is 30,000 shares, so in theory 150.000 shares (5 X Market size) should be the threshold for referrals, but for the time being, 250,000 is optimum.
"you feel the Market Makers are up standing honest fellows"
Piler doth indeedeth! He once knew a bod who toiled all over - from Smithfield to The Barras - and a finer gent he never supped ale with. It was the hours what knackered it uppity with his missus, though - especially at Billingsgate. Not longeth after he grafted there she ran off (with a lady, no less...!).
It will probably be posted as a "sell" in a weeks time - "where they be then" suggests that you feel the Market Makers are up standing honest fellows who play by the very loose and self serving rules .......
another 250,000 at 2.94p just before the bell. Very rare for me to average up, but I'm prepared to make an exception on this one. Fantastic IRR, and a growing market in Graphite, with a relatively restricted supply. Electric car batteries will ensure tremendous growth over the next twenty years.
I agree that the Board could have done a better job at setting manageable timescales however we often notice many companies setting competitive timescales without providing room for delays etc. A DFS is essentially not in their full control as they rely on third parties to provide a bulk of the information. Having said that, its only been 6 weeks since the New Year and as per the RNS it states that the DFS is expected 'early in the New Year'. For people to criticise the board for delays already is not an opinion I share. The drastic pullback in the SP from the highs of 3.75 to 2.55 now is unwarranted but that's the world of AIM. If this was April and we hadn't had news yet then it would be understandable however not mid Feb yet and people are already up in arms - to me that doesn't make much sense.
The deterioration in SP is not pleasant and I'm under water at present. I have used the opportunity to top up and will do again if there are further dips. My point is however that I invest based on valuation/risk and not based on SP. At a £11mcap with a expected DFS on project economics such as that of Armadale Capital - the risk is minimal compared to most other shares. Board expects better statistics than the scoping study and if that's the case then the market cap is way too cheap and there is a significant uplift. Let's not forget that MOUs have been signed and the asset Mahenge boasts one of the best (if not the best) locations for graphite in the world.
In the short term there is an unpleasant sight but come H2 2020 and once the DFS, offtake agreements, FEED study and financial arrangements have been established I don't expect ACP to be at the £11 mcap range. Until then patience is required.
Hmm - there be 366 days in 2020 ('tis a leapy - see Piler no bumpykin!) and today is the 43rd of 'em. That means we be (43/366)ths = approx. one eighth of the way through it. By wayeth of analogoggy, representing the yeareth by a weeketh, it currently be about 8PM on a Sunday. Now if ye truly think ANY timeth on the FIRST dayeth of the weeketh NOT be (right at) the beginning of it then OK. If ye think it is then ye must also thinketh we are still at the beginning of the yeareth so stop bleedin' scaremongeringeth!
It's not impatient PI's causing the issue but the board. Don't forget it's they who have set the deadlines, this share has a massive history of false dawns and mistrust. They do themselves no favours by either not performing, misrepresenting progress or simply blatantly lying. If the Corporate Update had said Q1 2020 it would have left wriggle room but it said early in New year and a slight delay in timings! Oh, and no update since then either other than more people at the trough. Board, do you job and keep the market informed and the SP will tank less because investors will have more confidence.
Of course DFS has to be correct, but I'm with Amtech. The 'expert' board said Q4 2019. Now 50% through Q1 2020. The behaviour of the sp would undoubtedly be different if announcement had said Q1 2020 - that's a fact. I'm not saying sp would necessarily be materially different but right now the delay is impacting on price - as DFS is not delivered
Aim investors don’t like a delay and rightly so as it’s not good for the sp and generally not good for the company. We can all state ‘these things take time’ , ‘pi’s are impatient’ etc etc. But the bods of these listed companies are quick to big up their expertise on their websites and quick to spit out dates, they’re the ones that issue these timelines so they’re the ones accountable when they don’t hit them. So it’s no good blaming the impatience of pi’s. Investors have their hard earned in here and have a right to be ‘nervy’ when the sp has dropped from 3.7 to 2.7 in the space of 6 weeks so close to this ‘slightly’ delayed DFS.
Spot on ..a similar situation happened with Hzm Back in Oct 18 as the DFS was running overdue and they ended up publishing it , without it being in its final format and guess what ? ...the share price tanked Point being I’m sure they released it earlier than they should have as they felt pressurised due to the timescales being extended and promising on delivery dates but seriously it took months for the SP to recover so after experiencing that , I tii Italy agree with BBN as getting it right first time is critical imho Interestingly the next disruptive technology could well be the man made graphene which of course comes from graphite and as such it can be only be a matter of time b4 the price for the raw material explodes as highlighted here .