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Freetrade did indeed change their T&C's to allow lending of your stocks. If you don't want them to do it then don't agree. However, they don't allow you to buy anymore share unless you agree to it (you can still sell and receive divi's). Shares in a S&S ISA are not being lent out which is where my pot of EUA shares lie so it does not bother me. If they were lending my shares out id consider changing my broker as I have a low opinion of shorters.
2022-05-19T15:14:07.683 GBX 7.866 1023148 80480.82168 Off-Book AIMX P AIMX
Did nothing for to SP, hoping for a matching 1m+ after hours and if so IMO opinion will be index adjustment.
If not worked sell through the day again IMO
GLA
I think that FreeTrade has recently changed their T&C to allow them to lend out shares Tenantry. Putting a very, very high stop loss, one which will never be triggered, on your holding will stop a broker from being able to lend out your shares I believe.
Cheers Tenantry - I would be interested to know what you find in your broker's ts and cs ...
Cheers Tilly, More learning pills taken.
Regards
That’s why Interactive Investors only let you out a sell order on of 1.5 times the current SP.
I’ve contacted them about it previously and they replied that they do not loan shares out. Their T’s & C’s suggest otherwise.
All the Best ( most of you )
Regards
Ryan
Bookers thanks for the response, I will get checking, my investments are in ISA and SIPP
Tenetry & all
Afternoon mate & no shot down all in the same boat with majority without agenda .
Actual figure is 2.7% of free float
& yes mate very low in comparison to the 1.9billion shares
However you can’t borrow all the 1.9 billion ,
The Utilization figure I post is the % of stock that brokers are willing to loan that is out on loan ,
Currently 73% - so high in that total
& cost to borrow high @ 12
Whatever the reason for the sharp increase all I’m saying is there’s always a reason in the markets when money is concerned so turn all pebbles over & eyes on the crows nest .
Rums all Round
Re shorting there was some discussion a while back (at the time of Jub I think) about whether your broker can lend your shares out without your knowledge. The note I posted below may be of interest ....
The retail brokers don't seem to lend shares but it's worth checking their terms and conditions. Note these may be different for an ISA or SIPP account vs. a trading account.
HL Ts and Cs state: "Investments will not be lent to a third party and we will not borrow money against your investments. "
Barclays Smart Investor terms state " We will not engage in stock lending for any Asset in your Account."
Interactive Investors seem to have a different policy. Their ISA terms state:
"You agree that we may act for other customers in a wide range of transactions with interests that differ from, or conflict with, yours. You also agree that we will not be required to disclose to you information known to us (or another member of our Group) that is confidential to those parties and may be relevant to your interests."
Clearly it's worth checking !
Tilly, at the risk of being shot down / exposed as inexperienced, whilst I appreciate 50m is a high number and it has increased as you indicate, as a percentage of the shares in issue it is a small (ish) number. Is the percentage circa 1.75% a high level of stock to be out on loan compared to other shares?
I think I've learned a bit today, I hadnt picked up on the fact that brokers short shares and they are the ones they hold on behalf of shareholders, is that correct?
Cheers
Caw & all
Afternoon, yes another potential reason mate good one ,
Always a reason with lumps like that - 15 million in 2 weeks .
I have no interest in shorting but keeping eyes on those numbers can assist in investing etc
We are merely minnows in the pond of sharks so poking around the pond for all info assists the shoal of minnows .
Rums all Round
Ethio & all
Afternoon, in my mornings stock data I actually asked the rights for a stock borrower as was unsure , only because of the high increase in stock on loan in recent sessions , was purely a half known question .
Always a reason in my eyes
Stock Loan for Short Selling
A short sale involves the sale of borrowed securities. These securities must be first located and loaned to the short seller in a margin account. While the shares are being borrowed, the short seller must pay interest and other charges on the loaned shares.
BR - loaning out all there stock at high cost to borrow & potentially gain a dividend was my wild theory question .
Dug this out so still not 100% if someone could clarify?
Rights and Dividends
When a security is transferred as part of the lending agreement, all rights are transferred to the borrower. This includes voting rights, the right to dividends, and the rights to any other distributions. Often, the borrower sends payments equal to the dividends and other returns back to the lender.
Rums all Round
Hi Tilly, I have another theory around MSCI small cap adjustments by end of month and II's hedging against their positions to recoup any sells - just a thought and as you say keeping looking over your shoulder.
Did post last night but thread gone.
GLA
You cannot get a divi on borrowed shares Tilly
by the way, the shares the broker lends out is YOUR shares. If you put a sell order at lets say £6 or any large amount, your shares will be reserved so the broker cannot loan them out. If you are long and your shares are idle , the broker will loan them out and make money on them day in day out.
Increasing shorts is not good but let's be honest, EUA are helping shorts by being vague all the time. The more we see shorts increasing , the more you'll get peeps sell out or de risk. Seen it elsewhere.
Jeez, your response towards tilly is absolutely ridiculous Mac. You sound like a terrible arrogant individual. Very very sad.
Mac & all
Don’t talk knackers , read my mornings post & my reply to stonk
I am watching my investment nothing more & investors should be interested in the shorts out on stocks .
I post the info for all to feast on & help others FFS give over with the accusations .
Rums all Round
Stonk & all
Apologies mate , did have this query this morn & Tigra clarified , what I mean is whoever may have lent this stock 15 million in 2 weeks could well have other motives apart from the cost to borrow revenue , if you get my drift .
Certainly some reason for shorts increasing this aggressively.
# one eye over your shoulder
Rums all Round
Indeed Stonk, it's a very bizarre piece to add to his post, almost like trying to convince people to open shorts to gain divis, very strange tbh!
GLA
"‘ the borrower gets the rights to Divis etc ‘"
That's not true. The registered owner of the shares (i.e. the lender) gets the divi, not the borrower.
Stock on loan/ shorts- updated from yesterday
Current - 50.6 million - increased 2 million since yesterday - ( highest ever total )
Yesterday total 48.6 million- increased 9.8 million since Fridays pre suspension
That’s a 15 million increase in stock on loan in 2 weeks - that’s a hefty increase & always for a reason # watch your backs
Cost to borrow - 11.5 high & indicates costly to borrow from brokers - ( highest ever )
Days to cover 1
Utilization 72% - very high
Like I stated yesterday & earlier- perhaps a mixture of hedging & Shorting crew taken out large shorts due to suspension & war narrative # plenty of negativity on deck .
Or loaning stock to make on high borrowing costs or all the above who knows …
Also noted stock on loan ‘ the borrower gets the rights to Divis etc ‘ - AGM only weeks away .
My Musings
Rums all Round