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The culprits just showed up. 60m offloaded in two trades yesterday morning.
More like 20M buys + NEX the MMs are playing hard ball but once the big news lands they'll be chasing us for stock.
There has clearly been a forced seller, someone who took a position in hope that the SS would be issued by now. Consequently their position has been called.
The MMs are happy to take the position and sell for a turn but are not willing to take much more stock until this is cleared.
It's frustrating for long term holders as they would have expected the SP to be far north of 0.20 by now given the JORC, updated, grades, resource etc.
You pays your money you takes your chance. I must admit I'm staggered that we're still down here but delaying the SS hasn't helped.
even now there is only 1 million on the offer on the order book at .0950 but despite 11 million buys at .0948 it remains as it is ….
I haven't mentioned a placing at all BB... I just noticed people were buying lots but the offer price never changed at all. I hope the same doesn't happen again at this offer price but time will tell. What I don't understand is how the sells appear to remain unreported … the only explanation is that or the MM has been selling on a very narrow margin indeed until now.. 40 odd million shares as an estimate isn't a placing in my book
Why are people mentioning a placing? Has anyone seen an RNS that says placing? Last time i checked we still had money and a SS due q4.
the offer on level 2 is currently .0950
not sure to be honest but the SP seems to be trading in the real range for now..9 to sell....0948 buy just now
Hopefully that's them done now then
now we get a clearer picture.....outed them!!
there have been two sells so far today at 9.50, (3.2 mill total) every other trade imho has been a buy. We are trading just above the bid price and way off the offer price at 10.50 which is controlled by one MM.... Yesterday was exactly the same and the vast majority of trades below mid were buys not sells. I have been watching this for days and bought some yesterday, when again one MM was selling and two were active on the buy side... In short I only mention this to prevent people getting ripped off here, I certainly wont be buying anymore shares with this smoke and mirrors going on... GLA
level 2 shows that we only have one MM selling and I suspect we have a large iceberg seller here judging by the way trades have been steady for the last two days and you can still buy volume bellow 9.75 …..
I've been watching level 2 on AIM all morning and all but one trade has been a buy.. there is a significant sell volume off the order book here which happened also yesterday and those trades are still not reported??? I've repeatedly tried a £500 ghost sell trade to gauge the price but all come back NT... never seen this before.
The one with the big float is African Pioneer. But who's buying? This smacks of some insider deal given there's been minuscule trades recently.
@Dirty...that's my point exactly....15,274,977 have been traded today and still 3,400,000 offered @ 2c
Which means that 18,674,000 out of the remaining 23M were traded today !!!!
Doesn't make any sense unless Turner Pope have dropped some more.
"Remaining in SA 36,363,329"
Matrix and I have 13 million shares, so that leaves 23m, with 14m traded today so far. So who's selling?
@Matrix....The JSE is made up of the following and I received this information from Dan Smith some time back when I was considering moving my EUZ portfolio to LSE.
239,863,187 EUZ Shares issued on JSE in Total.
African Pioneer own 130,499,858 shares on JSE.
I own 73,000,000
Total between us 203,499,858
Remaining in SA 36,363,329
For what it's worth, although I believe this to be obvious, LR did confirm in an email to me that the mention of Q1 was just a slip of tongue and he apologised. So, there you go. Rise Share Price Rise!! ;-)
P.S. I've mailed LR to ask whether they are placing, and will confirm a respons.
I know he is on-site in Spain though, and probably overwhelmed with mails, so response may be slow.
All this conjecture is garbage and people becoming bored.
I honestly don't see this as placements being done, except if they urgently need cash within the next week for some drilling work or something to be completed. The absolutely only other way placements would be done now is if the SS will be worthless. Otherwise it would make no Sens to not wait a week or two, release the SS and then place shares at a higher price. I think som people may have incurred debt to buy shares when LR already said the SS would be out in September. Now it's just taking to long and we had an investor presentation last week with the same public info just being stated again. So possibly some folks are just worried about the dream that was EUZ and have had to climb out. I would relate to this as I've incurred some debt to buy some of my shares based on the research done, and it's really worrying what's happening at the moment. Not everyone has cash and time to just be able to hold onto this for six months and not stress about it. But it just wouldn't make sense for EUZ to do the placing now.
@Bobby...I also hope I am wrong but what else can actually explain this abnormal behavior on JSE....Yesterday it was LSE....today the JSE....Turner Pope is the only common factor I can see unless I am completely missing something really obvious.....
@Matrix....this looks like another placement for sure imo....also over 7 million traded at 3c today and all of a sudden someone drops 10 million at 2c ....very very strange indeed. Something is going on and I smell a rat !!!
In South Africa I've only been able to buy EUZ shares at 3cent, and got about 7.5million.
Was hoping that by now it'd be worth more as we're "apparently" close to SS.
Today we've dropped 33% and there's 10.7million shares for sale at 2cents a share, with offers at 1cent.
Unfortunately I have no funds left to rake in at this price, but this SP movement is heartbreaking and it's unrealistic to not be concerned.
Are a lot of people may have bought in August and early Sept on t20s and have rolled over twice and are now selling to fund black Friday and xmas shopping. Hence the drop in sp. A lot of people live on credit.