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In this case, it was claimed that there was institutional support in some of the recent rounds, so you'd think they'd be keeping a close eye on it, given they're underwater (allowing for some trading meanwhile, if they're so inclined).
A lot of things have happened on aim, hardly an explanation
For the same reason, I didn't think it was a sell and buy-back because there's usually a spread attached to that (certainly when IG did mine for an ISA transfer), although it's usually tiny but enough to make some money. In other words, the prices would be at least slightly different (or quantities, similar). You can do a sell and buy-back in the book, without that, but then it would be an A trade. Still was staggering volume yesterday. Rags or riches (well, not so much riches since that last placing, but still)? Absolutely no idea. Ethiopia is GMT+3 so ... what? Later today? Tomorrow? Could be tomorrow even if it's done today but they want both to lodge the agreement with the govt and get the reaction before saying anything. Is the City leaky as usual? (I think there was a heads-up about the last placing but I misinterpreted it.) Ha ha! This isn't a share, it's a soap opera.
"It's only 2 months since the placing, are the people that stuck millions into this total mugs then?"
To be fair, on AIM, it has been known ...
It also makes sense for them to drop the price then to fill those large orders, because it's an MM trade, and the MMs make the spread, so they need to buy the shares to fill the order rather cheaper than the price they've agreed. (I'm assuming they hadn't got 80m just sitting there in a pool, ready to go, and even then those would have to have been bought earlier for less or there's no money in it.)
"FG, thanks for confirming and looking at several other trades in the same bid/offer price range seem to printed incorrectly?"
They aren't strictly incorrect because the underlying time-series data from the Exchange has no notion of "buy" or "sell" at all. In fact, it doesn't even include bid and ask prices at the time. Because investors like to see it, the various sites that display it make it up, by tracking bid and ask comparing the price with the prevailing price or the mid-point between bid and ask. If it's below that price it's marked as "sell"; if above, "buy"; if equal (on lse.co.uk) as "unknown". It's completely wrong for trades in the book on SETS (A trades) because those inherently are strict trades: the Exchange automatically matched an order on the bid with one on the ask, so it was a sell by one into a buy of another. Delayed trades make the buy/sell heuristic even worse, because the prices when it appears aren't relevant. For the 40m I went back to look at the prices at the time the order was placed, which is why I thought they were both likely to be buys, being just below the ask but somewhat above the bid at the time (and a large sell would have been priced much lower below the ask at the time, closer to the bid). It's a black art.
It's only 2 months since the placing, are the people that stuck millions into this total mugs then?
FG, thanks for confirming and looking at several other trades in the same bid/offer price range seem to printed incorrectly?
P79u. Yes, that's the one. I just logged back into my account to check the exact number of shares purchased, just in case it was someone else's transaction. I've only got a day to see if I'm an idiot. Unfortunately, I been doing pretty badly as of late. Hopefully this one will pay off for me!!!
FG so you £5k purchase is showing as a sell then?
I wouldn't say this is purely a gamble, since we had an RNS stating all was on track, and they remain confident to deliver what's required. Also Kefi being well known, deadlines extended many times indicating confidence and room to maneuver. Also relationships built over the many years by Harry and the team.
A pure gamble would be silence on the deadline by the Bod with a statement like " getting an agreement is out of our control"
This is mostly in Harry's hands to deliver the paperwork, whether signatories will suddenly decide not to sign is a different matter altogether.
AIMHO
GLA
Are you somehow related to Harry or his PR firm? There is no doubt he is an idiot and greedy person. He doesn't know what he can deliver and what he can't. Have you forgotten how he tried to set up his bonus last year. I have no boubt Company would persorm better without hin
DVH. I feel more like a gambler than an investor. I'm sure that I'm quite mad as I've purchased another £5k's worth this morning.
Good luck to you and all other LTHs!
FG
Not a sensible thing to gamble one's hard earned money in AIM casino. Its full of cess pits and white collar criminals. Risk / reward and odd of success is much better using leveraged trades in main market
This is why so many of us invest/gamble on AIM shares! This is high risk/high reward. Some you win (big!) and some you lose (sometimes the lot!) and I'm excited, not just with the TK shenanigans, but (more importantly for me) with how our Saudi assets are developing. The gang of naysayers here just add to the fun (except CVM who was/is just an ignorant plonker imo). GLA, we might just need it....
I think your spot on and James and your possibly very fortunate be here at this precise moment and have cash available. All of these companies are not spending millions on due diligence and having all these meetings for fun. They are there to sign agreement and move on subject to Ethiopian govt and MoM doing what they also need to do and open their country to mining. Kefi is the first major so its a massive deal for Ethiopia. The umbrella agreement is happening and MoM just as before support Kefi while playing a bit of bad cop to get this done.
People take Harry for an idiot (probably because their original investment in KEFI gave heavy losses) but people fail to remember that this company is still in exploration phase of the business model, meaning no profit and operating costs/wages etc - it looks bad on financials and so the stock reflects that. This is what comes with the territory of a mining business to begin with, especially when exploration and surveying has to be done.
Despite these challenges, Harry has kept the business alive for 16 year and secured excellent stakes in Ethiopia and Saudi Arabia. The fact that this syndicate are approaching KEFI is essentially the knock on the door to international trading and rights to exploit these minerals - it legitimising KEFI
I'm buying up KEFI stock because I speculate that all these agreements will go ahead tomorrow, this appears to be the natural course of things in my mind, and the fact that the deadline was extended most likely indicates that Ethiopia were giving KEFI wiggle room to sign everything off IMHO
*imo
Happy to corrected on any of these but from my research:
Harry didn't take a salary for many years (6-8 years?)
Invested more then he has earnt in wages from the company.
BOD own over 10% of the company.
Has stated 10/10 the agreement will be finalised.
I'm sorry but definitely seems like it's in his interest to get this sorted and he ain't taking us for a ride.
All imp and like I say happy to be corrected
Hamburgers were originally made in Hamburg (gettit?) Germany, having been modified from the raw beef version made in Central Asia by the Tartar peoples and were made using thinly sliced raw beef mixed with herbs and spices but then cooked. Name changed to Beefburgers when Germans with cooking skills emigrated to the USA and good ol' Hamburgers made of Hamburg steak popped up in New York restaurants. There you go. No charge as i had to Google it myself. Anyway i'm underwater here as well but i've been there before so no worries on that front. Hope all deep under get their money back with untold riches to boot. ATB. :o).