George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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£2.3bn market cap
SXX was a bad example admittedly but that was my point
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if you had bought before the move like I did then you would have been in for 22p and could have sold out in the low 30's after the move so it did buoy the price. Where it is now has nothing to do with what market it's on.
Yeah tell me about it, invested there too!!
Br
You can't really compare the two, one makes a sh#t load of money the other one owes a sh#t load of money.
SXX Sirius Minerals also moved from AIM to FTSE 250 so it’s not a forgone to success.
But being on the principal market rather than AIM will allow investment managers to consider BMN subject to their trust deeds etc whereas as suggested I believe yesterday, AIM stocks will be largely off limits other than to low cap specialist funds
@Faramog, is that that only for FTSE100 companies or FTSE 250/350 also? Not sure of the Mcap for 100 listing but assuming we would be in the 250/350 initially?
Cheers
Br
Also a bit of brand focus on being an energy company rather than a one product miner would help no end RK
Oh I see, seems I was wrong!
Thanks for that Yachty.
Br
Big rig... Tracker funds are...
Afraid not
A tracker will buy the constituant equities of the index it is tracking but derivatives are also used
Am I right in thinking that fund managers are obliged to buy shares in all FTSE companies?
Br
RK.....i watched SOLG move from AIM to Canada TSX and FTSE250..... the SP has fallen to 19p today from 46p when it was on AIM.
faramog - no system is perfect. But when you have an automated system, a buy is buy and the algorithm moves the SP up. A sell is a sell and it moves SP down. The spread is tight.
Now the key point is if you are away from AIM you will always get many more people interested in a business if the story and sentiment are good. They a huge amount of investors who will not invest in AIM companies because they see them as people taking a chance. For the company, it is a great way to raise capital and see f they can get the company going and make a few million. For the investors there is very high risk. Lots to be made and loads more to be lost. Bushveld Minerals is not one of the common AIM stories as you well know from your long term holding. It is run by extremely astute businessmen who are driven to make their company one of the most successful in SA and change the image forever. They are will be very keen to make sure they can comply with every aspect of FTSE regulation and move to the FTSE market as soon as is practicable. Hence bringing in Tanya Chkanza who has experience of doing exactly this before, as well as her vast experience in finance.
For the JSE listing, this is essential. One can never say that a business cannot be shorted, Fund managers do this all the time and they hold huge sums of stocks but for a growing company making money and within a market which could be very interesting to global investors - renewables and green energy then it is the market you need to be in. The FTSE is globally renowned and has much prestige and you can be sure that Fortune will want to be right there.
I am sure you would agree with my points.
Cheers RK.
RK ... it would pretty well stop the blatant manipulation, but SETs is not perfect and can be influence if there is not enough liquidity.
We must be on SETs by July (the timetable for JSE listing as it stands), as it is a requirement of the SA stock exchange... so we should be out of the land of blatant manipulation over the next 6/7 months.
isnt one of the main differences between AIM and the FTSE the level of financial accountability and detail provided to the market ? ....... BMN has recently employed a new finance director with vastly more experience......I wonder why........
It's worth noting we are up 10% in the last ten days, so not exactly range bound. Personally I would rather this than spiking up and down. It's discouraging endless trading and encouraging people who will hold shares.
Here's a bit of info on the process etc.
https://www.londonstockexchange.com/companies-and-advisors/main-market/companies/listing/process.htm
RK
I personally feel that a timescale for the listing is now long overdue
The planned listing date has slipped several times already
The consensus here is that the listing not only will make our stock available to a wider market but will hopefully lead to a more realistic valuation.
I’m struggling, I confess, to contain my frustration at the narrow range the share price seems to be locked in to.
On the BMN.L listing in London on AIM the current system is on SETSqx. If we joint list on the JSE and the exchanges work together it needs to be automated using SETS. On the FTSE all companies use SETS. So if BMN is to announce the joint listing it would make sense to make the change at the same time. Either way, it would move us away from market makers as I understand.
A basic explanation is here - https://aim-watch.com/articles/seaq-sets-setsqx/
This move to the FTSE is One small step for Bushveld Minerals but One giant leap for Investors!
Indeed Bella the main market is where we can take on such monsters as Ferro-Alloy Resources (up almost 2% today on a sum today of 3 trades - the same number as the whole of last week.)
Don't forget SA still has exchange controls and that is a good reason for BMN to have a JSE Listing for the guys who aren't able to invest outside of SA.
I'm sure BMN will want to move out of AIM as soon as possible as it is no longer a minnow. AIM was created for little guys like us so we could invest in companies that otherwise would not be available for us to invest in. The FTSE has to be BMN's target now.
993444 As one of the new management team has been involved with JSE activities, hopefully this leads to JSE and subsequent moving away from aim, maybe the development funding initiatives will require JSE and FTSE?
Hello All, I have just over 100,000 shares @23.2p so a small holding relative to some but have been following the company since 2017 & decided to get on board recently. Today I’m about break even! :-)
I just wanted to thank all the posters who make meaningful contributions (you know who you are) & echo the sentiments of all the newer posters who like me are very grateful for the generosity of sharing & pooling knowledge on this BB & am fascinated by the insights. I’m excited as we all are about the journey that this company is making & can’t wait to see what happens next!