Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The FCA have as much authority to fight this corrupt market as the street warden asking you to pick up the litter.
90% get away with it totally, 9% get caught but get off with a slap and the remaining 1% gets done and justifies their worthless existence.
Good to see the guys at Tullow, get some uplift today, been a torrid time lately for them.
Just re-read that.... actually, GS then got a 30% discount from FCA for agreeing "to resolve the case speedily". So they only had to pay 34.3million pounds.
FCA spokesman said "“These were serious and prolonged failures" but only fined 34.3 million. Insane!
Doubt anything to happen here with ARCM incident
When Woodford Equity Income Fund was found out to be in trouble, the market jumped on it and shorted half the guys portfolio and tore it to shreds.
What happens if this principle applies to PMO & ARCM? Assuming market got sufficiently convinced PMO is a good play and has no risk refinancing in 2021, then market predators should have a field day here and buy long, forcing ARCM to cover their short and get significantly burned... That's how the market should work. Fierce and brutal. And not just for PI's!
Quite possible though that ARCM have under the table deals with GS and others, where they can somehow manage to scramble out of their short without creating a surge in the SP
PS: With regards to reporting scandal. GS themselves were caught breaking the law 220 MILLION TIMES in the past 10 years!!! FCA only fined them a crappy 49M GBP though. Peanuts compared to the billions of quid they likely raked in as a result of knowingly breaking the law...
https://www.reuters.com/article/us-goldman-sachs-regulator-fine/goldman-sachs-fined-45-million-by-uk-watchdog-for-reporting-failures-idUSKCN1R913Z
I thought that too but they started the position long before the refi was agreed.
TR, I know I’m repeating myself, I think arcm are linking the short to SL equity raise. Hopefully they’ll get burnt.
Ticked?
I doubt I'm alone in feeling frustrated, angry and helpless. Little point in calling them names.
Scum.
Couldn't resist.
Makes you wonder what the point is of checking shorttracker if your 4% on PMO is correct give or take 16% !!
From Beatley on ii, who seems to have spoken with pmo IR.
My take is it looks like they are hoping the Zama funds will be in latest q2020 so they can progress this refinancing early, which could solve much of this shorting crap and stock on loan etc....
It is very odd, especially with it being some a large position, feels a little underhand, but not sure what difference it would have made it everyone was aware of it earlier?!
They have, points below:
Historical disclosure issue for ARCM, position was built between Feb 2017 and July 2019, not traded since July
Hedging their credit exposure, position was built at the same time as they were acquiring debt in the secondary market
Premier were not aware of the position until this week, disclosure explains the different between stock on loan and declared short positions
Premier expect ARCM to close the position when we refinance, discussions on the this are progressing well and hopeful to resolve in Q1 2020.
Last point is interesting, hopefully we’re doing more than just extending the maturities with the current interest rates.
Agreed blue bird and when pmo refinances the terms will be so so much better and with more reputable and well established lenders not these charlatans.
I've never shorted a stock in my life (wouldn't know where to start) but with my limited knowledge I would have thought that this 140 million short is a good thing.
Now when PMO starts to rise, when funding comes through, they will have to purchase those 140 million shares in a hell of a hurry.
PMO SP will fly.
They have borrowed 140m shares. Every 1p move against them costs them 1.4m plus ongoing GS fees for the constant dealing on the CFDs.
A look at their website tells you all you need to know, absolutely nothing, just a landing page.