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Bf, agreed, it was very notable today what little stock was on offer, pretty much from the off today, whilst the debate continues in regards to the origins of the director buys, what cannot be ignored is the knock on effect and that a significant line of shares is now further secured, it could be an interesting couple of weeks, as we approach what should be a period of significant news flow,...GL S
Takes very little volume to make this move
DC, that was also my line of thinking and if it is a declared major position, I am sure that we will see a shareholder notification form (TR1) at some point in the days ahead,.....GL S
Good to note a significant amount of the media outlets have picked up on the directors buying.....
(Alliance News) - Jangada Mines PLC on Wednesday said its chair and a non-executive director bought shares in the company due to their view of the quality of the company's 100%-owned Pitombeiras vanadium project in Brazil.
Non-Executive Director Luis Azevedo bought 6.0 million shares at a price of 1.3 pence each on Tuesday, totalling GBP78,000. Executive Chair Brian McMaster bought the same amount at the same price, also on Tuesday.
"The purchases are reflective of the two directors' views as to the quality of the company's 100%-owned Pitombeiras vanadium project in Brazil, where recent metallurgical rests demonstrated that the magnetite hosted vanadium mineralisation responded very well to magnetic separation, and its 26% shareholding in TSXV-listed ValOre Metals Corp," Jangada explained.
Shares in Jangada closed up 8.6% at 1.575 pence in London on Wednesday.
By Lucy Heming; lucyheming@alliancenews.com
https://www.morningstar.co.uk/uk/news/AN_1571245071269951600/director-dealings-jangada-chair-non-exec-buy-on-pitombeiras-view.aspx
AL, setting aside the debate regarding the origins of the shares, today’s news has certainly added a new dimension to the the near term prospects, with meaningful news expected both sides of the Atlantic, a £156k line of equity now locked away in secure hands is not to be dismissed under any circumstances, regardless of the origins,........GL S
Btw - Someone did message me earlier this evening and suggested one of the Woodford connected funds may have been the source?.......one to ponder.
Who sold out? All I've seen is family buying. What have I missed?
Weird for insiders to be selling out now surely?!
Dcat80 - that's really helpful. Thank you.
DS - I’m really not trying to! Just worry we might wear out Swizz and his patience. like all I appreciate his posts.
Mark Ward still holds, company have never actually listed him under the significant holders section which is just sloppy. However If you look on the significant shareholders section of their website you’ll see it notes 4 people that hold over 3% of the company. Brian and Luis being 2 of those 4. Then you’ve Matthew Woods holding 47m and Mark summer 15m.
We might get a TR1 notification showing reduction in the holding of either Mark or Matthews.
The only other likely scenarios I could think of are either it’s shares the MMs accumulated in the sell off or 2 holders both holding near 3% each, but connected enough that today’s transaction could occur st same time.
Hope that helps, but as I say first port of call when such a large % is transferred is companies site for significant holders
Dcat 80 - so Mark Ward not listed but you've spoken to him and he still has his shares. I'm sure you're not trying to be unhelpul but you've make it even harder for me to work it out!
DS - 12m shares is well over the 3% notifiable interest. Check the company website for significant holders. Mark ward is no longer listed there, however having been in contact with him I know that’s incorrect and he still has his shares. Not trying to be unhelpful, but you know the saying teach a man to fish....
Swizz - I wouldn't know where to begin my detective work! Do you have an idea where/who they would have come from?
Nice to see!
that's what you call a Director Buy...
W5, a small amount of detective work should get you the answer and fair play to the board for facilitating this “off market” and ensuring the shares are now in very secure hands,...GL S
I don't know about you guys but I am seriously excited about what the next few weeks might bring us
How did they manage to get hold of that amount of stock at that price??