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agreed Canetoad - diamonds might even benefit further from the current developments, with rising risk of market correction and interest increase underway, if diamonds take off as an inflation security.
In any case, I am increasingly confident that the current year's main PDL financial drivers of: cost-control strategy of current management, strong diamond prices, plan to sell loss-making entities (Koffie and Willi) or make them profitable, high level of extraordinary stones will pull through - let the dust settle...
@MrCarats: "The broader markets are only going one way now and that will impact Petras decline."
I disagree. In my experience, this has been relatively robust on days when the US markets are heavily down. I also see limited risk vs reward at the current level and would look to add if it dropped significantly. I agree that it's excruciatingly annoying to hold, but I see it coming good overf the coming months.
Pis are buying. Look at the sale trades.
As someone mentioned earlier, Vontobel seem to be selling at any cost and or prepared to accept that their average price they receive will be driven lower by their selling strategy. It seems a dumb way to go about it as if they waited their average price would rise given the amount of buying. Maybe they have the office trainee on the case!
See you then Carats
The big question yet to he answered is whom is buying all this stock?
Follow the money and obviously this is a sell now so I am out for now!! Will hopefully buy back later at 0.8p at some point ??
The broader markets are only going one way now and that will impact Petras decline.
Infl
PS Shearclass vontobel started at 17.83% so only another 5 years to go!! :0
We can only assume that the sell order has yet to completed, hence no RNS
"On the PDL website Vontobel are listed as a 16.81% holder which equals 1,632,266,006 shares. However, in their TR1 on 15th March they owned 1,730,825,578. So they appear to have sold just over 98m shares, annoyingly it doesn't say when the shareholder listing was last updated."
UPDATE:
Just checked again this morning and Vontobel are now down to 15.99%, so they have sold 0.82% of share capital = 79.6m shares. They have a mere 1,552,643,274 shares remaining. This confirms that the recent selling at 1.77p is from them. It is the ultimate iceburg. Furthermore, do 'Monarch Master Fund', who hold 1.165b shares get next dibs after Vontobel?
It looks like it'll be a long while until this clears as most PI's will steer clear given the historic issues + lack of share price movement. The best bet for a swifter clearance is likely a significant share price drop which will create major volume.
Well spotted.
16m shares a month reduction. Only another 8 years to go and their done!!
I have just noticed something that may give us a clue as to who is selling;
On the PDL website Vontobel are listed as a 16.81% holder which equals 1,632,266,006 shares. However, in their TR1 on 15th March they owned 1,730,825,578. So they appear to have sold just over 98m shares, annoyingly it doesn't say when the shareholder listing was last updated.
The other 4 bondholders are unchanged.
2.4b volume since 15th March and it's ticking on nicely today at 15m, so you'd like to think if Vontobel are the seller they will have got through another chunk of their shares.
It'll take time, however when the breakout occurs it will be violent!
Bondholders selling into any buys. Will take a long time for this to clear IMO.
Wonder if they will announce a consolidation next week.
They should rename this share Yoyo diamonds!!
Up one day down the next almost day after after day .
We are overdue a big blue diamond find like it would make any difference anyway ..
yes carats, based on the current development, my technical trajectory also points at 2.5 by xmas, but with a significant margin of error (+-25%) to both sides, since exact timing is a b**** here... However, given time, I continue to see a huge long term (2-3 years) potential all the way up to 10-15p, and only short term detractors (0-1 year)...
I bought 6 x 50k this morning which is the largest volumes available with IG.. :-/
Another dump underway but not quite as cheap.
1.76p is one hard nut to crack !!
Patience Patience expecting at least 2.5p by Xmas ??
Indeed, there are a lot of games being played here. There is an AT buyer of 50k chunks + an AT seller of random amounts. Then you get big 'O' sells of 250k / 500k chunks as we saw yesterday. Looking forward to the results + conference call next week.
Well that little dump got sucked up by the market over yesterday and this morning.