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Sorry qualibashi.
I can tell you Redknight knows very little about trading.
He doesn't even understand automatic trades or how trades are balanced on and off book .
Just normal workings of a larger order. Same happened on Friday. Very clear that we have a seller and a buyer and the level that they transact at seems to vary but if you take the collective on the deals then you'll probably average out near 17p/18p.
Friday saw several large blocks worked through at 19.2p or around 19p on opposite side of book.
Still some of the same going on today around 19.2p and I fully expect another large block trade put through after hours around the 19.5p mark. Just a hunch. But the good news is that whoever is involved is savvy and professional enough to make sure any gaps and TA stuff is ticked off as they go.
Teck have rebuffed the bid
Red thanks for link and info , something got to give here soon imho
Probably cross Glen and Rio off the short list, though might make a nice poison pill for Teck?
Mining Dealmakers Set for Year of Hot M&A After Monster Gold Bid. Takeover talk expected at Toronto’s annual PDAC mining event. Mining M&A is off to a strong start in 2023 thanks to Newmont
https://www.bloomberg.com/news/articles/2023-03-02/mining-dealmakers-set-for-year-of-hot-m-a-after-monster-gold-bid?leadSource=uverify%20wall
“Our preferred commodity for a 12+ month horizon is copper, but we believe the sector, in general, is poised to materially outperform the broader equity markets once again
Most investors are bullish copper for the long term, but very few believe the next bull market has begun yet.
There should be signs of this in the second half of 2023, Jefferies believes, as copper benefits from some recovery in Chinese demand, the ongoing global buildout of renewable power and growing demand for electric vehicles.
We place a relatively high probability (~50%) of copper breaking out to new highs in the second half of 2023.
Every mining cycle has major M&A. This one will be no different, in our view. Does the large-scale M&A begin in 2023? The likelihood of large M&A in mining increases if/when China recovers.
Finally, supply growth of most major mined commodities surprises to the downside once again, ie is worse than expected. The impact of supply constraints in an environment of growing demand would be higher prices."
https://www.proactiveinvestors.com/companies/news/1002114/ten-reasons-for-mining-investors-to-be-happy-about-2023-1002114.html
"Even with the exceptional deal activity seen in 2021, the mining & metals sector saw a run of M&A transactions in 2022 not seen in a decade, resulting in a grand total of 288 deals worth US$88.2 billion for the year. "
Despite lingering demand weakness, market players are seeking deals to expand their copper portfolios with the expectation that lower levels of historic investment into the supply side will offer considerable future upside (as supply contracts).
Market conditions for M&A activity have shifted significantly since Q1 2022. Moderating inflation and changes in interest rates are reducing uncertainty about the financial costs of large transactions and asset valuations. Industrial metals miners will be sensitive to any weakening of demand in 2023 as the growth slows. This has the potential to weigh on deal activity in industrial metals, as miners seek to control costs and may wait for prices to weaken before targeting acquisitions.
Other miners will seek deals to mitigate risks by securing supply or demand, access to reserves and financing for future investment. Joint ventures have become a particularly popular form of investment as a result.
Looking past the short-term, demand for metals that clear the path for the energy transition is set to march steadily higher. Firms with large portfolios of copper, nickel and lithium are likeliest to benefit. We may also see further consolidation in the gold mining sector as mid-caps seek to scale up to better capture investor interest."
https://mergers.whitecase.com/highlights/mining-ma-just-saw-its-strongest-run-in-a-decade#!
"Teck is a significant producer of copper, with four operating mines and large development projects in Canada and South America. Copper plays an important role in meeting the world’s growing demand for infrastructure and products and is a vital component in power generation and transmission, construction, clean technology and electronics. "
I agree with Qali.
Why not just filter him copper?
Some others do like hearing his opinion.
Thats big news addickt...Teck is $19 billion...
Thanks QB. I'm not sure thats true but I'm grateful.
I just try to keep things objective on here and, as to the takeover imminence, I simply say theres no smoke without fire...
And that fire started on October 7th.
Unfortunately, due to the incompetence of the team that was sacked, the merger took far longer than it should have, so its a slow burn so far...
But when it gets going it will burst into flame quicker than people expect.
Thats why I'm sad for flyinghigher, anon and davethehorse, because not only have they missed the recent rise, but they risk missing out on the endgame...
AIMO of course. Cheers again.
Excluding me...
corporate activity in the sector.
Glencore have bid for the Canadian firm Teck Resources. This follows Rio's jv announcement last week. Good to see some sector activity.
I like to read RK's opinions Copper- IMO he has more knowledge on trading than most on here.
RK, we don't need your constant updates! Go onto a trading site please!
"In came the moron" more like!
So in came the Algos...drove it up to 19.56...down to 19.20...up again to 19.46...and back again to 19.10...
But at least we're holding above 19p...
Good volume already at 1.53 mln
Ellipsis? x6.
Good of this tool to be so obliging.
RK, please don't over invest in one share again. I'm as cool as a cucumber here. Because in all honesty I have just a portion here, anyone of my investments can go pop anytime. Including ggp and so have zero desperation.
First two hours of trading only 190k shares...
Only 5 ALGOs so far and none since 8am...
Nevertheless SP holding up which is good...
Have XIB finished closing their position (if they hav ebeen...)
There was panicky demand in the last few minutes on Friday.
If we hold and consolidate above 19, augurs well...
Easter week, so quiet in the UK, but lets see...
I don't know if he is delusional: I think there would be an innocence to that. I think he's genuinely trying to inflate the share price. The sad, misguided part is that he thinks he can do that from a tiny internet message board! Do you think he believes he can trigger some kind of 'meme stock' scenario?! It's pathetic, but I think it's the only explanation.
He's old, he's invested too much of his kids' inheritance in a stock he thought he was smart to get into, he's deep underwater and he knows he doesn't have long to try and salvage an out. He can't influence the company itself, so he pretends to have insider contacts (then backtracks when it is pointed out that this might harm the company's reputation), or attempts to inspire fomo in the common reader by referencing non-existent 'news' and following everything with an ellipsis...
"Something's going on..."
His fan boys will be on this impressively fast, as ever. They never seem to grow tired of his nonsense.
Deluded rk
Thanks guys...
Meanwhile...very slow this morning...mostly off book trades...
Me too novice... finally your purpose makes perfect sense :)))