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If it wasn't so seriously corrupt watching the hand holding taking place behind the scenes, it would be laughable that today's volume can correspond to such a tightly bound range. Add in the 40p steaming pile of BS from earlier and you have a level of theatrics that Cirque de Soleil would be proud of. Or maybe a Saturday morning pantomime matinee would be more apt. Ridiculous.
I am sure I am not the only one who thinks we will be talking about much higher share prices in reasonably short order.
Gla. Good times ahead.
Looked down the back of the sofa (metaphorically for those of a literal mind)to find more funds to top up 85k at this price, sub 27p
I agree Daisydog / Alfacomp.
Daisydog - that is also my conclusion
The only way this mornings trading makes any sense to me is for the MM with a free supply of shares to sell to be helping supppress the price working with a mate to allow them to close a short position advantageously.
Adam because something is mathematically possible it does not mean it has happened.
The Placings RNS from early 2018 contained the following 2 paragraphs that make it quite clear that in Fortune Mojapelo's opinion at least some of the placees are here for the long term. If that is true then it is unlikely that all the Placing shares have been sold. Of course we are all speculating here, but sometimes it is not enough to look at simple sp movements or patterns across AIM due to shorting. Better to examine specifics of this company.
"The Placing was led by a consortium of cornerstone investors, including the original founders of Mimosa Platinum and LionOre Mining International ("LionOre"), as well as the key investors in Mantra Resources at its inception. In 2007, LionOre was bought by Norilsk Nickel for US$6.3 billion. Mantra Resources was sold to Rosatom of Russia in 2010 for US$1.6 billion."
"We are delighted by the response from investors to this capital raise which was significantly oversubscribed. We are particularly pleased to welcome to the Company a consortium of highly experienced mining investors as well as several leading UK institutional investors who buy into and support our ambitions to build a significant low cost and integrated primary vanadium Company."
only a small fraction of which is published here:- https://www.thebushveldperspective.com/blog/public-trade-analysis-6
Because adam there is clearly not sufficient unexplained volume before November 2018.
You may not be aware but there is significant analysis which is done every day of the trading in BMN
Alfa,
How is it only 200 days given the placing was 15 months ago.
That is more or less 300 days trading days which equates to about 330k per trading day when averaged out. Seems perfectly plausible to me and that is assumming they have all been sold.
I can still buy as of 2 minutes ago 100,000 sub 27p, that proves there is a supply. If I had more funds I would definitely do so!!
they must be shorts closing.... or expect a UT later... they cant be real trades surely
Adam - sorry how can you justify such a claim that 110 million shares (10% of the company) could be disposed of in only 200 days ?
Adam in the hour since 09.34 there were something like 900,000 shares bought. There were very few obvious sells though the trades at 27.00p I have credited as sells (generous though as the sell price on HL throughout most of that period was 26.85p.
Whether or not many of those trades were shorts being closed out does not matter. They are still buys!
There has been a significant imbalance of trades in favour of buys. Therefore unless there is gross manipulation going on (quite possible) there have to be some undisclosed sells.
Alfa,
If indeed those 110m shares have been sold that they would have long gone and do not account for the volumes we have seen for the last year or so.
Unfortunately the one MM sat at 27p is the one with the tame sellers conkers in their vice like grip !!!
PDub
The SP was moved down very quickly on little trade and then we have seen endless buying around 27 - 27.5p
I would suspect that many of those apparent buys are infact short trades closing out and mixed in are people taking long positions.
When the market is working for shorters, it is always counter intuitive to the normal supply / demand perspective.
People who have a long market perspective always rush to believe there must be a background seller but that is rarely the case.
However in a shorters market, we often see endless buying and the SP does not move readily. We also see the spread skewed so people believe that all the trades going through are sells, when its clear that is not the case when you do dummy trades.
Shorters markets also tend to create alot of trades which from my perspective are just noise. People talk about the 50k buyer and the 50k seller, they look like noise
Alfa
any thoughts on what is going on today.? Only one MM holding at 27p..and has been all morning the next two are at 28.5p..and next three at 29.5p....
AdamP100 - there may be no requirement for there to be any RNS post share sale as clearly there is only a single holder (First Island 41.3M Shares) from the March 2018 placing (153 Million shares) that was required to file a TR-1 (over 3% - c. 30M shares). Thus there is over 110Million shares from that placing that might be sold without ever a single notification.
AdamP100 what's your explanation for today's crazy market activity over the last 50 minutes or so?
Pigpen
We have seen this for months with huge volumes traded and no RNSs
We could still be talking about this in six months and what are the odds there will be one?
There comes a point when logic dictates its not a background seller.
over 2 million in Volume.. i make it approx 1.5m buys and 500k sells so over a 1 million more buys than sells and we are down 4.4%?? and Buys at 27p has been hammered for the last 45 mins and not a flicker in the SP.... something clearly a foot in the background...
Adam, they only required to issue when the 'selling' has finished. Until then it is considered as one transaction for RNS purposes
PDub
There is always talk of huge background sellers and yet we never see holdings RNSs to that effect.
Pdub,
Same over on ii
Keep dummy buying, almost like a game with me, trying to get 27 dead lol
I know what's going to happen, it'll jump to 28 or something haha
I suspect those round number buys are just part of the rinse and repeat cycle