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Aye Michu - you could be putting the correct spin on it. Clearly it was ambiguous comment. Either knowingly or not. The web we weave in order to deceive, eh?
I might have got my consolidation ratio wrong btw. Been quite a while back (2 years ago??), I've forgotten exactly what it was. Claimed at the time to be done to stimulate the share price if memory serves me right though. Fat chance!!!
I hear you madsktpan.. but I took that to mean any around that time.. as he'd notified of selling some down previously..
My guess is that JWH has had a view for a fair while now that this co. won't be sold unless /until 2m plus OZ of gold is proven up and so he's not seeing it as a potentially dumb play to sell some last year or this.. as it will likely be later 2022 or more likely even 2023 before this company might be sold.. and one way or another, he has been thinking for a pretty long time now that this will be range bound - eg 25p to 40p -for a - very - good while because of that... and if that were the case he has been very right for a fairly long time so far :-)
Michu - someone actually said they had it on good authority that JH had not been selling ANY stock. It was simply a case of he hadn't participated in recent Placements so his % holding decreased.
Yeah right.
I'm with AM90 in JWH selling some.. really disappointing that... as he did plenty of intermittent selling a fair while back .. and then someone here said they had it on good authority that he'd stopped.. he stopped for a while but is back selling now.. and here's hoping it's not another 500k in a month or two's time.. etc..
I think Bill Humphries said in recent interview that 'penny' flippers of a while back placement - not most recent one - who were in the money were the problem here in recent months.. well it's more complicated than that imho Bill .. and has been previously when you said the same thing too.... obviously more buying will help.. but it's not as though there's little to no buying.. there's constantly some buying .. but there's constantly selling to match and/or more still.. if buying did pick up somewhat would the selling to match pick up somewhat too.. as I've said previously, my guess is maybe, alas..
Looking at dummy trades this am and I'm thinking the bottom in now (subject to no further holders selling down obviously!)
28.95/29 for up to 75k, then full offer 29.5 to 125k and 30.5p for above this.
A few buys this am and then full offer paid and MM's hopefully will then start raising the bid and we can move!
Playingtheodds - that is the total number of shares in the company. They have increased slightly because of the warrants. He deffo sold 500k.
Yeah, I also get confused with the international notifications and the timings, do they only have to notify if they break a 5 block.. Eg.. From 13% to 9%.... But would not have to notify from 13% to 11%? Or am I reading this wrong?
Really doesn’t help that they don’t notify timely. For UK it’s next working day and non uk issuer it’s within 5 working days.
International TR1 notifications are 5% as opposed to 3%
From FCA handbook....DTR 5.1.2 sub para 1
“(1) reaches, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100% (or in the case of a non-UK issuer on the basis of thresholds at 5%, 10%, 15%, 20%, 25%, 30%, 50% and 75%) as a result of an acquisition or disposal of shares or financial instruments falling within DTR 5.3.1 R“
https://www.handbook.fca.org.uk/handbook/DTR/5/
But no one enforces it. I wrote to the regulator once (MAR) as Acacia were deliberately delaying sales notifications whilst they were still selling. The reply, it may be a training issue! Yeah right!
Trek
Well to me it looks like he has increased the shares owned but his overall % of has been reduced. Very odd. His holdings in May 105,153,334 , today posted as 105,756,961. Totally baffled.
HI Trek,
Pretty sure he has sold a small amount (500k) - indeed there was a 500k trade on the 29th at 28p. He was at 10.05% as of the 9th June according to the annual report. The numbers all make sense. He has declared it now, so wont be selling any more in the near future at least. Looks like some form of top slice, not overly uncommon for major shareholders, especially that he has a load of warrants as well. That said, the timing is a little odd, he may have just seen the super high volume last week as a good way to sell a few.
He was not the only seller last week, pretty sure one of the cannacord funds sold out last week few last week, one can tell because the big 1.5 million trade ended in 61,167 the same as their holding (literally a 1 in 99,999 chance that it wasnt them), it was the Nano cap growth fund. We may or may not see a TR-1 for them because they are Canadian and there are different rules for them, or it may pop up later. Equally there was also a big buyer, not certain if they are over the declarable limit, but not impossible to see a TR-1 from them as all.
https://www.morningstar.com/stocks/xlon/lnd/ownership
Anyway looking at todays trades, I am pretty sure the big seller is done for now, back down to normal volume and no big trades.
Not sure the holdings RNS made sense, probably not completed correctly?
It shows that JWH crossed the whole % threshold, (set above 3% for UK issuer in accordance with the DTR rules) so a TR1 was issued for going from above 10% to below 10%. Whole % crossing. Yep all good.
The box “An event changing the breakdown of voting rights” has an X. Ok so the recent event is the placing.
Then when you look at the crossing date it is 29/7/21???
I mean what is all that about. Wasn’t the full listing completed 2 March, so that should surely be the crossing date as that is when the dilution of extra shares would take them below 10%.
Either the TR1 is wrong, not for the first time, or I am really missing another RNS!
Anyways, phew! JWH hasn’t been selling!
Trek
Might not have the herd here, but certainly some big trades going through of late.