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Whatever the deal is it will be done now and you can bet your life that these sausages selling this morning have no idea what it is. Just the usual panic sellers.
Agree - and pointless as ASX holders can sell here. All too convienent that a mere 10m in 3 sells last Thursday caused a 50% drop - now 70%.
I won't mention forward selling for legal reasons but very very unimpressed .
They've made a mess of this and it's looking deliberate. They suspend on ASX but leave AIM to run knowing it will crash the price. The only saving grace here now will be the Chairman putting his hand in his pocket.
Depends where the capital is coming from and on what terms. Hopefully not retail at this price.....................
Just done my review of this BB.
1) Firstly, I intended to respond to a message posted a few days ago which I as far as can remember (DYOR), questioned the advice given by so called share tipsters and how they should be embarrassed. I wanted to respond to that post, but interestingly I can not find it on this BB.
2) Recent Presentation - I personally thought it was very good, but was left wondering if this project will actually get to production. The Presentation to me (DYOR) seemed to indicate that they were waiting for an increase in PGM market values. Hence my concern would be, how are the administration expenses being covered during this period (cash burn). I would suggest clarification from the company is required.
It just needs buyer and it will move, these MM are sat on the Ask with less than 2k's worth of stock.
Even with over 1m sells today, if you want £25k worth its 1.74.
Peel and Berenberg clearly have a lot of stock to shift here. The company need to come and out and clarify funding plans.
Unfortunately small cap stocks are vulnerable to big trades - not massive but big in relation to av vols. CGO. 2.5m drop 23%. Friday. Last week LEX 5m dropped it 32%. MMS won’t give you a good price if you sell into limited liquidity. Here worse as coincided with RNS so spooked all the holders buying into the good scoping study. This a risk factor on all small caps- nothing you can do about it apart from keep some powder dry and benefit from the rebound after the shock. Peeps sell for loads of reasons, many unrelated to the company. PS AAL dropped 18% yesterday?
They're merely promoting the investment case, I wouldn't call that ramping. The cash situation was known back in the Spring, it was stated at the time that the company had enough cash to complete the SS. Anyone shocked by this revelation clearly did not do any homework.
The sp dropped because circa 13m shares were dropped on the market "at any price". This appears to be one seller but the question is who.
Https://www.theaustralian.com.au/business/stockhead/future-metals-lowcost-panton-project-to-generate-robust-margins-in-all-phases-of-pgm-price-cycle/news-story/893a3f046971a2c72921f7347bddeae4
Are they ramping?
Grow up, no one knows why someone wants to sell big
Those late trades explain yesterdays drop and qualify for a TR1.
Well lets see if Pat buys any down here, he said in the presentation he was looking forward to becoming a shareholder.
Agree Jarvy. Pat has also stated on a couple of occasions that he intends to buy once the SS is released. The drop is a perfect opportunity, as is the need to raise cash. I'm not suggesting that he wanted this drop but it does present an extraordinary opportunity.
Surely everyone knows they need financing though, you can't do a Pfs without it or a Dfs the bod have said they want to add value for shareholders they would of been better off doing a raise on the move up to 4p then putting out the scoping study. I don't think they have an uderstanding of how Aim works or the traders in it.
Not sure about that, this looks extremely weak. I've not seen selling pressure like this on the release of a SS for years. Obviously financing is the Elephant in the room so they need to act fast to get that sorted.
1.60 looks to be the bottom...imo,,,after yesterday drop
Timetable and CAPex may have spooked a few but the co. operates in a solid country with a good reputation for supporting mining. The size of the CAPex means some serious debt or JV, too much to be raised from shareholders but working capital will no doubt be needed.
Well the presentation was very good. Can’t understand this drop
Agree with every word Jarvy. The trades just don't justify the drop but watching the order book throughout the day the Ask was constantly loaded, this suggests that there is a glut of stock that wasn't there yesterday. The board did say last month that they wouldn't raise at the price at the time which I believe was 2.2p so who knows. Also agree re ASX, I've never seen any advantage to a dual listing.
Have never ever seen a reaction like this to a scoping study it is almost like someone put on a big short. Why would you sell down here is beyond me. I don't hink being on the Asx is a good thing. They should of placed at 3p and got the elephant out of the room. Lets see if the Chairman takes advantage down here.
i've been back through the trades for my own sanity and we've had 6m in large buys. roughly 19m buys vs 15m sells, suggests either stock is coming from somewhere or the mm are taking the ****.
I agree. And probably a large one at that. Let’s all find out in next few days.
This is more than just a reaction to the Scoping Study, something else is afoot and more than likely a placing.
Wrong board. Sorry.