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Maybe some general fatigue and concern the MDA and Tyseley production may slip into next year.
Perhaps pointless, but my effort of theorising what the selling could be, I welcome if anyone has any other ideas or further research on the below:
1) Selling of HyproMag consideration shares?
9,742,031 shares issued as part of £1m share payment. Statutory hold period expired 3rd December so you'd have thought this would only explain selling after this point, but I don't think this stops them from forward selling or shorting in advance of this expiry and then offsetting the short with their holding. Whilst the RNS mentioned a 1 year lock-up until August 2024 I believe these lock-ups are very often ignored and aren't enforceable.
2) Talaxis?
Could be using it's shareholding to "make a market" or keep the share price where it is? It isn't uncommon for very large shareholders to use a portion of their holding to go against the direction of the market to avoid spikes. But the selling was initially bringing the share price down to 8p so if Talaxis perhaps it's more of an exiting or another strategy.
Does anyone know much about Talaxis? It's a subsidiary of Noble Holdings Group, which seems to be now called Noble Resources. Looking at their website / accounts, Mkango looks to be tiny compared to their core assets. So I doubt they have any need / interest to sell or make a market.
Appreciate Talaxis / Noble operates in China, but looking at the Board I doubt there's a sinister "China influence" at play.
3) Other shareholders selling?
Could it be 4.66% shareholder Steward Newton, who didn't participate in the latest fundraise (and hence notification of holdings RNS showing reduction in shareholding), selling down? From what I can see he bought in 2021/2022 at 25p so he wouldn't be taking profits.
Or Mr Michael Geoghegan who's initial notification was 4.04% in Nov'21 and MKA website shows 3.81% latest.
Again all rather pointless but interested to know if anyone has any other ideas on this
..came up as a sell as usual!
Very good analogy - especially as I am TOTOlly all in on this. Just going to buy a few more now - blow it.
Very funny analogy silvermaple, made me chuckle. As you infer there doesn’t seem to be any rational reason for it and I suppose we will never find out why . Realty frustrating though, I reckon the share price would be in the 18-20p range at the moment if it hadn’t been going on.
The calm before the storm maybe? Hopefully the wizard's behind the curtain pulling his levers like crazy to produce an MDA and get those magnets rolling off the conveyor belts at Tyseley (in front of the TV cameras)
That not one of us on this board can come up with an explanation for the large blocks of shares that continue to be sold in and around 10p. this is the only aim traded stock that I own and after following it for some 6 years now I can honestly say I have absolutely no idea how the trading on this exchange works. it's like the wizard of oz behind the curtain pulling all the levers. it all seems rather complicated from the outside looking in but in the end it's just this frail old dude running the whole show. and in this case it seems like this guy starts drinking whiskey around 8 in the morning
US Dept of Treasury squeezes Nickel/Rare Earth supply along the same lines as the EU's Critical Mineral Act
https://x.com/bonker_99/status/1732007825478455499?s=20
:)
I’ll be absolutely staggered if we get an MDA announcement this side of Christmas.
Expecting 2 major pieces of news in the next 2 weeks -
- Songwe MDA.
- Hypromag recycling plant commissioning.
Very interesting times
I just don’t get why anyone wants to keep the share price down. Every time we get positive news and the price starts to rise we get a flurry of 50k/100k sells to bring it down again and this knocks a lot of people’s confidence and dissuades them to invest more. I’ve seen distressed selling before but this seems different to me as it has been going on for weeks at all different price levels. Does anyone have any ideas as to why someone wants to suppress the share price at this point in time?
Should've read "trade lower than the current share price after MDA"
Got myself a lorry load of popcorn for December, this all feels closer than ever now. Anyone saying this will trade lower than current share price is on drugs, at this market cap with MDA in hand and Hypromag news the sky isn't even close to being the limit. If it rolls into January, so be it. Another buying opportunity will present itself.
This has got to explode at some point, surely. The potential for scale vs the current mcap is ludicrous. Fingers crossed for a Christmas present from Monica.
Thats correct.
Last couple of days were red though
I would love that but there's only 15 days of trade left plus 3 dead days between Christmas and NY
All looking even better financially than I'd anticipated.
Usual AIM traders panic selling on a red days.
Hopefully we've consolidated previous price gains from a ridiculous 8p. Next leg up now
Not much available to buy chaps - I've tried ...
Plenty of interest here still I see.
December tomorrow.
£2m cash left - that's better than we thought?
"Just look at the topic of critical raw materials...China has bought mine, after mine, after mine, globally, takes the raw material, processes it in China and has the monopoly."
Well Ursula if you are so concerned - its obviously time to get on the dog and bone to Mr Dawes!!