Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Thanks guys, intriguing comments.
Mango,
Joe soaps no slouch either ...
Who could he be talking about? and which page of the 2022 accounts do you need to read?
There was a 250k trade today at 3.3p if you are still looking for ghosts, or rather the imprints where they have been?
Bluemango, thought you had got to 4,976,923 yesterday ;-)
There is, of course, an art to this.
Q? Why would you agree to take shares at a premium to the prevailing price to settle a debt.
Why should you have to if the company cannot pay cash?
Q? Who would be owed exactly £145,500?
Why GBP, why not oil dollars or local tenge?
Q? Why did the price rise so quickly after the deal?
Have we miscalculated?
Or, perhaps they were the buyer of 500k on the 24th? A buy that started the climb??
There are some on here that play the crowd: these guys are experts.
The volume may well still be churning through to reach sticky hands.
jimo
[4,476,923 x 0.0325 = £145,499.9975]
The advisors gone.
The MM's can sell more shares than they own, then buy them back off the market later on.
They were selling at 3.6 and 3.7p, they'll buy them back and have a clear book for the next rns or run on volume.
Again, impressive how the price has held up with this going on, so must be some underlying demand helping this transition.
Possibly still related to our pesky advisor dumping, though that was 500k left at the last count and there's been some sizeable trades since his sells by Tuesday 30th of 3,976,923 of his original 4,476,923.
They are 5odding about setting themselves straight.
Uncrossing Trade: During the auction period, there may be a point (or price) at which the best BID and best ASK match and a trade takes place. This trade on the London Stock Exchange (LSE) is known as an Uncrossing Trade.
Another large UT trade, what is going on in the background?
Er yes too
Lets have a look at SY shallow ............
South Yelemes:- Shallows Full production/export licence to 2046
54:- Soviet sub economic 30BOPD workover Q1 2024 2000m targeting Dolomite
805:- 160 BOPDs sidetrack Dec 2023, 2222m targeting Dolomite
806:- Workover Q1 2024 2000m targeting Dolomite was flowing at 150 BOPDs with 807
807:- Workover Q1 2024 2000m targeting Dolomite
808:- Spud 2017 3200m 6 intervals potential new structure, drilled to 3070m, inconclusive testing, high water saturation, 2 shallow intervals of interest not yet tested
Anyone anything else to add?
Yes
If you knew A5 was flowing, 806 on its way, the boat was signed, sea bed laid and mjf deal progressing would you be buying at 3.4p?
Imo always a leaky old ship...
There has been a lot of sales recently Bully and its not exactly crashed the SP, someone must be buying a huge amount
Can still sell 1m above bid, even after someone just sold 600k
The WCP are not going to be able to shift scores/100's of millions of shares when the share price is in the 20p's so they'll have to wait mostly for a T/O to cash in - the pressure to sell will be on.
Pretty sure they won't want to be waiting around too long and would consider offers coming in when the share price is 20p+ with a very decent premium to boot.
Next year Rodder's.
Hardly a blip. Ready for next leg up, could be huge. But leaving that aside, quite exciting with all the different strands. Concert Party must be quite busy.
Forget the middle sentence, obviously.
500m !
Yes, was expecting 500k rather than 1m.
Yes, was expecting 500m rather than 1m.
Have to say these sales have been absorbed with relative ease.
We've seen 2m + 1,996923 so want to see the balancing figure of 500k ... to hit the consultants 4.4m share pment
4,476,923 new ordinary shares of 1 pence each in the Company at 3.25 pence per share ("New Shares")
That's a trade for 1,000,000.00
The 500k could easily have passed through the day before the 2m and the 1.9m.
I'd imagine that's someone cashing up for the long weekend.
Yep, surely that's the end of the overhang.
Onwards and upwards, should be very little holding this back now ...
I make that the lot?
Info out about the barge too now, just non stop isnt it, has to be a comprehensive update soon?
''21 Dec 2023 - Deep Well 803, the final deep well under the current work programme, has been spudded with drilling now past 200 meters without incident. probably spud at the beginning of December.''
''25 March 2024 - Drilling has reached a depth of 1,250 meters without incident.''
Drilling has taken them 3 months to drill 1,250m - that's an average of approx. 14m per day, the well was supposed to take 4 months to drill. They could be at around 2,000m when we get the next Op's RNS if they speed up, so it's looking like another 4-5 months TD.
They've officially been in talks with a Specialist to pull the stuck pipe out of the 802 Deep Well since 25 March, how long does it take to sign a deal, news could be out anytime with the 141 Shallow Wells 17m stuck pipe to boot.
It will be interesting to see what the deal is re $ pboo and for how many barrels etc.?
2H as said many times should be Company making........
''21 Dec - A G70 rig recently acquired from Sinopec is being tested with the resumption of drilling at Deep Well A7. ''
''16 Feb - At Deep Well A7 we plan to use the G70 rig we are in the process of acquiring to resume drilling from a depth of approximately 2,150 meters where drilling was paused to allow other wells to be drilled.''
G70 rig 21 Dec 2023 - recently acquired / 16 Feb 2024 - we are in the process of acquiring.
Like I said it looks like they haven't fully paid for it yet, hence the A7 Deep Well delay, and the seller has probably put a block on using it until they get their dosh?
''drilling was paused to allow other wells to be drilled.''
Yeah right, chuckle.
Bottled,
My apologies, you are correct. 08/05 to 06/06.
two weeks max till news?