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I'm quite green when it comes to all of this type of stuff, but I would guess dropping the sp could be a good tactic, as they would trigger people's stop losses and get the shares cheaper than if they did if they raised the sp. whether that's the case here, I have no idea
Surely if the MM's wanted shares they wouldn't drop the bid price by 10%, they are more likely to put it up 10%.
MMs trying to get their hand on shares today, no excuse for such a drop, especially with that 1m buy from earlier.
Is that even possible with a 10% stake? Also, if that information was readily available, would people bother investing here? Also, if you assume that was true, surely he would have bought more shares when it hit a low of 1p, rather than look to get to 10% with these inflated prices. Just doesn't seem likely to me.......but what do I know
And the SP is barely budging, someone is happy to take all the shares off of whoever wants it I was reading from someone that Mr Kung pow chicken is looking to build a stake of 10% and will then delist the company, is this true?
"I wonder how much longer we have to wait for that new Website. I hope it will be more informative than the current one" I think the delay is partly my fault, in September 2015 I created the asaresourcegroup.com domain name and kept hold of it, purely in the hope that somebody one day may want it, and hey ho somebody did eventually want it so it now belongs to ASA.
Exploration is wrong term for Zani-Kodo as it's of course a known entity and resource but just not in development... early appraisal stage is perhaps better
Nope none. They only produce gold and nickel in Zimbabwe. At present not worth mentioning the cows or diamonds as pretty much cash flow neutral (some quarters positive, some negative) In terms of exploration they have very promising gold asset in DRC (Zani-Kodo - the future cash cow to propel ASA into big boys league if handled correctly but talking long term). They then have copper and cobalt too, however had no updates on these assets for long time. Chinese company Hailiang completed drilling long time back in ASA's area but no results have been released
Do ASA mine much cobalt? Im told its going up in price?
P.s I like ASA and re-assuring there's a billionaire buyer, but not sure I myself would put all my eggs in just one company!
Watching one basket in a basket case of a country where the CEO's just been ousted for embezzlement... he who dares rodney, he who dares!
No complaints from me, let's the technicals cool off, this is ready to break out so soon we will see fireworks in my opinion!!!
At least it means you only have to watch ONE basket! Is this a good basket to be in?
In that case I would quote JP Morgan (I believe), who once said: "You can surely put all your eggs in 1 basket, but then you damn well watch the basket ..."
Mind if I join you? just put all my eggs in ASA basket. Please feel free to evaluate my reckless stupidity on a scale of one to ten.
I believe he reassurance mentioned is in regards to the articles released quoting a figure of over 15mill being spirited away.
Where are the reassurances? But yes, website looks great and Kung Pow chicken is increasing his holding, looking good
Lots of news this morning. We got reassurances by the Company not to worry about additional damage to the amounts stated. The Zim press, with exception of the Zim Herald, was sending out news they apparently didn't check on before. Then the new Website was finally released. First scrolling indicates a very user friendly and informative product. Well done ASA ! I also note that Dr. Li Kwok Po is getting ever more enthusiastic, upping his stake to over 7%. Perhaps that was after reading the investment case as published on the new website.
Wednesday 26 April, 2017 ASA Resource Grp PLC Holding(s) in Company RNS Number : 3745D ASA Resource Group PLC 26 April 2017 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii ASA RESOURCE GROUP PLC 2 Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights X An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to the notification obligation: iii See schedule 9 4. Full name of shareholder(s) (if different from 3.):iv Li Kwok Po David See schedule 9 5. Date of the transaction and date on which the threshold is crossed or reached: v 25 April 2017 6. Date on which issuer notified: 26 April 2017 7. Threshold(s) that is/are crossed or reached: vi, vii Above 7% 8. Notified details: A: Voting rights attached to shares viii, ix Class/type of shares if possible using the ISIN CODE Situation previous to the triggering transaction Resulting situation after the triggering transaction Number of Shares Number of Voting Rights Number of shares Number of voting rights % of voting rights x Direct Direct xi Indirect xii Direct Indirect ASA.LN.UK 110,000,000 110,000,000 120,500,000 7.1211% B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of financial instrument Expiration date xiii Exercise/ Conversion Period xiv Number of voting rights that may be acquired if the instrument is exercised/ converted. % of voting rights C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi Resulting situation after the triggering transaction Type of financial instrument Exercise price Expiration date xvii Exercise/ Conversion period xviii Number of voting rights instrument refers to % of voting rights xix, xx Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 120,500,000 7.1211% 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi Nominee account VIDACOS NOMINEES LIMITED Purchased by The Bank of East Asia Limited on behalf of Li Kwok Po David Proxy Voting: 10. Name of the proxy holder: 11. Number of vot
Excellent new ASA website: http://www.asaresourcegroup.com
I wonder how much longer we have to wait for that new Website. I hope it will be more informative than the current one.
Not such a quiet day after all, 20k buy just popped up. That's definitely a buy too, and almost at full ask!
Day today, most of the action happening on NEX, calm before the storm maybe? This is due to break out, waiting patiently
same here Wideyed
I'm just happy not to be 50% down anymore. Any upward movement would be icing on the cake