Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Blue Finish??
Honestly, I wouldn’t be at all surprised.
CoolMax, there are ONLY ever 2 reasons for manipulating the price downwards imo ;-
1) To allow Short positions to close out
Or
2) To fill a large buy order.
IG are showing 97% Long 3% Short so not a huge amount of short positions to close out.
Anyway, time may, or may not tell what the reason for this ludicrous drop is/was, but imo, it’s not because of the deal announced today.
And like a coiled spring !!!! back on the run upward lol....
Wrong or right Coolmax the markets determine whether investors make money or not.
It’s harsh.
Some chunky buys in the last half hour. SP recovering from -23% to -13%. Where will we end up?
Whimax, I do believe there are some big sellers in the background with heavy manipulation to bring the price lower, we will find out in the next few days, don't believe this is such a bad deal, just longer wait, market can always be wrong
This drop reminds of the days when we had dusters.
BDC
I totally agree with you but can you explain what is going on with SP. It seems ludicrous.
I have never been this stumped.
All IMHO DYOR
Happy
This happy clapper is trying to buy as much as he can around the 11p mark 😀 👏 👏 👏
A market cap of cira £110 Million makes absolutely no sense. Just 1 producing onshore well is worth 3x more than this and they have 3 of them lined up for drilling in early 2024.
Couple this with a successful drill of Anchois East and you get another $850 million. For £110 Million
Downside is limited. Upside is asymmetric. 😀
👏 👏 👏 👏 👏 👏 👏 👏 👏 👏 👏 👏
Wouldn’t they be more likely to drop the price like this if they had a large Buy order to fill? How would they possibly fill a big buy order in a rising market on a day of excellent news, if everyone else is trying to buy too. Especially if it was at a pre agreed price! 🤷🏻♂️
At one point Orcadian were up ~50%, guess CHAR helped balance the LSE scales....
Agreed. However, the MMs would only drop the price like this if a big sell order had been placed. It could be for all sorts of reasons but must have thought today was the best day to dump. Perhaps they are disappointed that they haven't managed to sell into a rise.
Watch the professionals buy back….
I have re-read the RNS a dozen. This is an excellent deal. But I give to on this market. I don't understand LSE any more.
All IMHO DYOR
Happy
Hope they buy bucket loads ...
Hope directors will buy some shares to restore the confidence
Nickshaw, I don’t accept that the market “doesn’t like the deal”. I’ll have to agree to disagree with those who say it doesn’t, but a drop of 20%, on this volume, with this number of buys v sells, just doesn’t add up. I may be proved wrong and a huge sell may appear after hours, but 1 person/Insti offloading still doesn’t mean “the market doesn’t like the deal” imo, it just means they want to sell, for whatever reason, and are using today to do it.
On the face of it, and at this point in time, there a pre 2m more buys than sells today.
Wonder if that 3m sell at 10.5p was pretty much the last of his offload, a hefty lump, hopefully get rid of him and get back to a move upward lol
Must be the first Aim company is history after signing a farm in partnership deal it lost more than 20%, does not make sense.
Back to March 2022's SP, at time of RNS for Post-Well Analysis on Significant Gas Discovery at Anchois-2 Well that Confirms excellent quality dry gas and significant increase in net gas pay.... unbelievable !!
FH,
Who knows what the average of the "100k" chunks seller is, he could very easily have single digit average, as some will have here, and with such a likely substantial holding, you need volume to get it away.
Personally I don't care about today and the reaction, it has provided me with a chance to accumulate more at a price I didn't expect to see, and others will have done the same.
Tomorrow is another day, focusing on a day like this can simply put the head in overdrive and result in making poor decisions. The deal looks pretty decent to me, better than I expected, and now we simply wait it out, plenty of activity coming with high news flow rate.
Whimax I love your enthusiasm for this share and I really do hope you're right but as I type this we were 23.3% down (although appreciate its bouncing about a lot). I think Veteran is bang on. The market doesn't like the deal because it pushes first gas back to 2026 and still leaves significant risks between now and then.
This level of selling makes little sense. There were 40 other interested parties and imagine some of them may have loaded up here expecting to get the deal. On the news they may have decided to sell up on a high volume day.
Big seller looks like a fund - if you can hold and top up this is pretty much the lows I don’t see 7/8 p and if this happens great time to buy and average in company will have cash in next couple of months and drilling more gas -
Price is what you pay. Value is what you get.
Don't focus on short-term swings in price. Focus on the underlying value of your investment which is de risked. If the company is bought out you will be kicking yourself!
And carnage IF I STAYED IN BE 1000 DOWN LUCKY I LOST 130 ONLY