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Trek - I saw the larger sells which seem to have been executed earlier but posted later in the day. No change there then.
I am pleased with progress so far as I am a LTH with an average of 16p!!
Today I decide to reduce my average a bit with a smallish amount but even then only offered NT with Halifax. I haven't done one before and I think others are wary of them but it worked out ok for me at 7.9p.
Strangely, the share didn't plummet as soon as my buy went through.
Hoping now for the good news on permit.
gold 2066
Thks for the info Treg still crazy spread can only get 8.30 on a dummy sell
Possibly, up 13% now!. What a shake that was!
Did you see the 3x£10k sells pretty close together and the 200k.
I have been on the wrong end of it before. A SP dripping down then a big drop and you question your sanity and eventually sell some. Glad we held our nerve and even better for those that topped up! Well done!
Got a nice feel this BB!
ATB
Trek
Bounce
Permit in ?
Sorry last link cut off....
https://www.marketscreener.com/GOLDSTONE-RESOURCES-LIMIT-23084779/charts/
Trek
I posted this on another BB when someone asked for buy/sell/ALGO clarity
Any spread of over an arbitrary 3% is pretty useless for gauging buys and sells. The LSE algorithm used on this page only gauges a buy or sell according to if the trade was above or below the mid point at the time it ran.
So....
# The published trades here can be 15mins late.
# If the spread is wide, there is no way of knowing what side of the mid point the trade was.
# If a sp falls quickly sells will look like buys as by the time the algorithm runs it puts a sell above the mid point and shows it as a buy.
# If a sp rises quickly a buy will look like a sell as by the time the algorithm runs it will be below the mid point so the buy looks like a sell.
# Furthermore with a wide spread you may find some MM’s are so far apart from the mid point so how do you know if it’s a buy or sell.?
# If you use interactive investor you may get a prompt, we have improved your order by £162 so your buy may look like a sell when published as there was one MM with a better book.
# or the stock may be illiquid and there is only 1 MM with the min so they push the spread out, I have seen 40% spreads on AIM, to deter trades. Vol and liquidity are key to gauging value.
I hope that explains some myths. But what difference does it make.
For every buy there is at some point a sell, why do you think the London Stock Exchange don't say buy or sell. It’s just a trade to them. It’s just the aggressors price that is published. I.e the trade instigator. The simplest way to gauge the buy/sell demand is the SP trajectory, the volume, and the chart candles. So over the month the shares are in demand.
Now amongst that you do get MM schemes, often ALGO driven or granted more ‘Machiavellian’ behaviour if there are just a few MM’s holding a book and usually in low volumes to create liquidity but they have to follow the MiFid rules and post a scheme. That is not the case here with often 5 books albeit a low volume,
Definition: market making incentive schemes that the Exchange is mandated to offer under Article 48(2)(b) of MiFID and Article 1 of Commission Delegated Regulation (EU) 2017/578
Page 58 covers it and also ALGO trades. Worth a basic grasp of the offside rule because you can be sure the MM knows all the rules!
https://docs.londonstockexchange.com/sites/default/files/documents/rules-lse.pdf
Here is the daily volume.
https://www.londonstockexchange.com/stock/GRL/goldstone-resources-limited/trade-recap
Here are today’s trades. NO ALGO trades but anything over 8k shares looks to be a large order LRGS.
https://api.londonstockexchange.com/api/gw/lse/download/GRL/trades
You can look at the buy sell candles on any free charts. I use market screener. We have a staircase type pattern 4 steps up which is very strong. Resistance 9.2. We will have another leg or two up then likely travel along a corridor.
https://www.marketscreener.com/GOLDSTONE-RESOURCES-L
My buy shown as a sell looks like there are many others imo
hawkk,
Thanks for posting that. I have been in touch with many of the CEO’s of companies I invest in but not Emma. However, I did see an investor podcast and she came over very well. She emphasised the team working will Bill helping out and her previous experience. I am pretty sure we are in safe hands. It just takes a penny rise and sentiment will change.
Another aspect is as the stock is pretty illiquid it does get played on low volumes and the MM will take advantage of that to create liquidity. It is part of their role. Like you intimate there is no substitute for understanding the investment case and sticking with one’s guns as long as everything is in the open. Having dug around I can only assume there is no hidden agenda causing this dip. The MM knows the permit is due. It’s been telegraphed. If the SP were to go on a run from here the MM could be well short of stock. They will be doing their best to build positions not just here but across many AIM gold stocks. The alternative would be unsustainable bubble territory with no relationship to earnings. Just like in the 90’s!
ATB
Trek
Comes across as confident and was very helpful in answering my questions, she was the one who offered the call so cannot complain as most CEO's hide behind their emails or just provide no comms whatsoever.
She was mindful that this was a lifestyle company in the past and have an asset in which we can get into production, as in her previous job they were all focussed on production. So Bill and her are working on getting to production in the most efficient way as possible and they are just awaiting the environmental permit which is due imminently.
She highlighted that Ghana has just approved 14 mining licenses which bodes well for us, so the plan is to get into production and with the rise in gold prices obviously look to take advantage and scale up the resource. She has really ambitious targets of making this a billion dollar company which i was taken a back by but also quite like the ambition as she comes across as a straight talker. As ever time will tell as to if this ever achieves anywhere near that but i am bullish on this as i think they will do very well from here imo.
Last point - i did mention that the company should do a bit more PR and she stated that she wouldnt just do interviews at this precise moment for the sake of it and would like some meat on the bones before kicking off with a PR campaign. We have a busy H2 coming with lots exciting milestones so as they say build when its quite and buy when others are fearful and sell when others are greedy.
Happy to keep adding to this position until i achieve my target holding.
Good luck all