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you're right. he is a nice bloke. I've met him multiple times and he has always come across as sincere and focused on the job in hand. The problem I have as a long term investor is that deadlines haven't been met, salaries haven't been reduced enough, assets haven't realised any value whatsoever, and their flagship project (Molyhil) appears dead in the water.
Shareholders must now work together to make a positive change.
Baggy i agree. Mick's interview is very disheartening, pretty much his same respose as to any interview in the last twelve months. My impression nice bloke,likes conferences and metal detecting in the outback. No good as as negotiator or businessman.
I think that interview confirms there are no interested parties in Molyhill and Mick now needs to step down at the AGM if no deal is put in place by then. All shareholders should be in agreement that this is the only way forward now. Use your votes and get rid of the deadwood.
It's probably pj's missus shares being flogged off. Trickle fed by mm's to deflate the price further. The volume of shares brought and sold is tiny and the lack of any rns re institutional selling speaks volumes. Pis are getting screwed and all mb can say is.... A deals taking longer than he thought and it'll be sorted in the next short while.... Whenever that may be.
It’s a plausible theory I suppose. Probably untrue but the joys of this market are we will never know either way. What we do know is that this is now becoming a bloodbath and many LTHs are selling out and reinvesting elsewhere.
Hi Baggy, I,m offering a possible scenario. The whole thing smells. Weather my scenario is correct or not i don't know. i certainly hope it is wrong as it is moraly corrupt. PJ has stopped ulagising Thor on his twitter feed, preferring to post company news feeds only. Read into this what you will. Those conected to the AIM market seem to do as they please as there seems little will from the authorities to intervene.
Possible scenario. Large 5% shareholder resigns from the board after a difference of opinion with Mick. Realising that Mick is unrealistic in his expectations and therefore highly unlikley to get a deal quickly, this significant shareholder decides to make a few quid whilst starting the long wait. He does not want to sell his shares as he suspects long term the company will perform well, so he decides,using his city contacts, to lend his shares to a broker/mm for the purposes of shorting. Of course for this he gets a generous fee/commission and the broker/mm know they can't lose as they have access to millions of shares in this illiquid stock with a wide spread. Both parties know that the longer the uncertanty goes on the lower they can drop the price. This means that once the suspected discounted placing occurs the lower they will be able to access enough shares to cover the short position and return them to the lender. In the mean time the lender has not only got a healthy return from lending but as a signicant holder he has been able to buy millions more shares in the placing thus significanly reducing his average price. When a deal is eventually done he sells for vast proffit. PI's especially those who sell on the fall are sh****d but as i belive Eric Sprott once said PI's are the plankton of the financial world, so our shorters aren't bothered. I don't know if this scenario is probable, but i guess it's possible.
I have been on record here, stating this share was suffering a death by a thousand paper cuts.
It would appear the end game may be about to start and the death spiral picks up pace.
I hope I'm wrong as I will have lost a few quid, probably not as much as some but enough all the same. I have been extremely disappointed with the BoD and their constant 'there's gold in them there hills' updates, with no action to actually go and get it. I dare say somebody somewhere has made money on the back of this, not me.
A1m, i'm not sure what we can do. I have contacted the company twice, voicing my frustration and disappointment with the situation and have not received a reply on either occasion. Shareholder relations are not looking to be a concern. The facts are we are going to need funds to continue in business. so either a deal or placing are imminent. If it's a placing why wait until the share price is decimated before going ahead, seems barmy. If the deal is close then excellent, but i have to say i'm not holding my breath on that one. MM's love pushing prices down and the companys lack of action is a major factor in where we are now.
To prove my point, two 1 million share sales through in the first half hour. Anyone believe they are genuine holders selling for a significant loss ?. No me neither. Anyone shorting would have had to have borrowed the stock to do so, only three holders have enough stock to facilitate these numbers. Mick, MTR and Paul Johnson. The plot thickens in what is looking more and more underhand.
I think you're in cloud cuckoo land. This year hasn't long to go. Early next year for placing IMO. Mick don't give a monkey's. The share price is down because all the company does is drill and place. The placee knows they'll be able to flip their shares for 10-20% and Mick will have some more money for drilling. The mug punters will pick up the tab. It's been going on for years and years.
Something in the share price movement here stinks. The price has been marched down remorslessly over the last 18 months. I check the trades daily and it seems that no matter how many shares are purchased the MM always find enough sales to cover this. The sales are regularly in the first or last half hour of trading,especially on the normal light volume days. This would suggest that the MM have a large sell order they are able to access at will. If this is the case why has there not been a TR1 as the number of shares this seller has unloaded is many millions. Something here is dodgy and we the PI are paying the price.