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Thats a good sumamry AD...
For anyone who hasn't read the article that waynexx has posted, it only takes 3/4 minutes and could plausibly explaing a lot of what has been going on here...
The trouble is that I'm not the only one here believing short selling is being used to manipulate the SP here...
And based on the usual low volumes its not at all difficult and if you look at the individual AT trades, the average is very low, leading to the conclusion that nobody would make any money out of them, so manipulation is the only possible explanation...like when you get 40/50 consecutive small A trades in a very short period...
As any expereiced investor on here know, trades timed when there is poor volume can easily steadily push the price down...and even if the shorter has to close those by the end of the day, they would lose hardly any cash.
And if it was say Jiangxi they wouldn't care about the cost anyhow, because the end gain could be in hundreds of millions.
But I repeat...all we need is two determined bidders, whatever the starting bid is...
Noront shares were 12c only months before the bidding started. Wyloo (led by Bob Sangha) acquired 375 of the shares at 20c, but the final price still finished at $1.10c only a few months later...
The resources here way exceed what Noront had...
Short investing is, at the best of times, a dangerous game. It can lead to humongous profits, as it did for Michael Burry in 2008 when he correctly predicted the American real estate bubble would crash. But it can also lead to huge losses, as it has done for Burry in the last few months.
Three months ago, his 13F filing showed that Burry had bought more than $1.5 billion in put options, betting the S&P 500 and NASDAQ would fall sharply. In the intervening period, he has closed that position - apparently at a 40% loss. While there is some nuance to this story (including the fact that the $1.5 billion figure is actually the notional value of the short and not the actual amount of money at stake), it still proves how risky shorting assets can be.
Not that this has deterred Burry. He's already found his next target - and it's no small fish either.
Obviously not for the faint hearted.
Waynexx thanks for that link which I've only just got round to reading..
Its worryingly persuasive, especially this part:
"But veteran junior mining investors say that the removal of the “tick test” restrictions on short selling in 2012 have unleashed algorithmic trading programs onto the market that prey on both companies and retail investors. "
The trouble is there is no mention of UK regulators who frankly don't seem to care when a huge company like Halifax can almost be destroyed by short sellers, as happened in the Crash!
Short selling was permitted to facilitate 'more orderly markets' but in my opinion it has caused immense value destruction...and its so easy to do...
I am looking forward to what the pundits will post as we approach agm 2024 with no sale, no bid and further dilution.
Mgt could have put Solg on sale today at say 40p. May be the Chinese could have bought it.
A one way market is not healthy, any more than a ban on long selling shares would be.
Yes I know there is. I would ban it all regardless
Also, there is a problem with 'shadow' share shorting off-listed markets, using spreads and options.
There is a difference between short selling and 'naked' short selling.
They banned shorting banks for a while after the financial crash to “protect them”
Didn’t want banks going to the wall but anything else is fine. I would just ban it altogether, the idea it is needed for additional volume is ridiculous
Https://www.mining.com/can-beaten-up-junior-miners-fight-illegal-short-selling/
What an absolute 2twat... 🎅🎅🎅
HCTYA
Rednight1 that is a question I have asked myself quite a lot over the last year.
Sorry miller but your comment shows that you know virtually nothing about this company so why are you invested in it?
Merry Xmas from freezing Japan to everyone, except the liars , fantasists and abusive Muppets.
have an excellent festive season with family and friends. and let's hope for better times next year world wide,
our lives will go on without solg, for many others, not so fortunate.
I'll take that as an admission of defeat from the 'big man on campus' and we can all forget about his latest embarrassment. Poor chap- I think people like him only lash out because they are desperately sad inside. He has my sympathy, but he doesn't need it in his big car/house/many girlfriends/huge investment... 😅
Merry Christmas all
Have a good Christmas everyone
Time to get drunk and watch 8 hours of prime boxing
So by slug's logic, 'men' deserve credit if they refer to their skin colour as "the superior pigmentation" and to Chinese nationals by outdated slang, but not if they call out this kind of behavior? Sounds about right. Grrr, what manly man he continues to prove himself to be. I'm sure we're all quivering from the testosterone...
Meanwhile, he still hasn't climbed out of his embarrassing situation RE: false facts. I visit here once, maybe twice a day and seemingly every time there's a new brain fart from him.
Jerry I find it hard to give credit to anybody who is a snivelling snitch running to admin every five minutes and freely admits it.
Credit only to men, not mice
Thank you for your support needalife, let us go with the premise that hurting people hurt people regarding Jerry.... I am a her not a him just to say, as you weren't to know .... Wishing you a very Happy Christmas
Jerry, wondering if you can enlighten me why miller's post was one of the stupidest posts you've ever read.
bearing in mind, it appears miller brought at 30p, and it's now 8p,
also bearing in mind the board want to up there ante on free shares.
please do enlighten me, why you chose to try to humiliate an 84 year old, who in my view, is perfectly entitled to his opinion, and who by the way posts very sparingly.
and maybe the 8 who ticked up your post, may want to elaborate what they found in the post to recommend it.
all of the false merry Xmas wishes, appear to be worthless, when you feel the need to try to impress the gang.
PITIFULL springs to mind
Thank you Jerryspanial it is good to know that after 83 years I am good at something, clearly investing in Solgold at the price I did was not good... Happy Christmas to you.
dbw. haha. no quady gets some strange credit in my world for sheer bl00dy mindedness. still playing king **** with the production view. it’s quite amusing nowadays.
Miller, not a stupid post.
it's just some can't stand reading facts, if there not positive.
been like it on here for years.
look at the likes for your post. we're not all Muppets.
Jerry ….. assume you have Quady filtered ?