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I don't get the sells... Peel Hunt and other opportunistic MMs must be having a laugh... the uncertainty surrounding the stock (MWA) is allowing "all" the MMs to make a killing. You either believe there is life in MWA and buy steadily at what can only be considered an incredibly cheap price (assuming all will be well) or you cut your losses and sell up. But continuous trade in and out in the stock - that ain't going to make you money. Hit the bid and the MM will only gladly offload them again on the ask side.
Having been in and out of this share since 2009 when the price was around 12p - that was perceived as a cheap! I remember then the biggest issue with Mwana was Bob and his Zimbabwe companies act policies. Is it not possibly a good thing with new BOD? They are Chinese, cash rich and understand how to do business in Zim “connected with government”! The previous BOD with white South African Directors may not have been for the best interest of Mwana, especially operations in Zimbabwe! Mpinga was a different story and a big loss for Mwana, however, the other directors sitting in SA and London and advising on multiple boards could not have been for the best interest of Mwana. Yat Hoi Ning ownes 7.6%, surely his interest must be finding a Nomad and increasing his equity. The company’s assets must be valued at many times more than the 1p and it was only a year ago that there was talk about a dividend! Hopefully Mwana appoint a Nomad, commodity prices go up, Bob to move on and Chinese to add value and funding. Am I being too optimistic! Anyway any further info would be appreciated as as can’t see myself selling at 1p!
I don't get the sells... Peel Hunt or other opportunistic MMs must be having a laugh... the uncertainty surrounding the stocks is allowing "all" the MMs to make a killing. You either believe there is live in MWA and buy steadily at what can only be considered an incredibly cheap price (assuming all will be well) or you cut your losses and sell up. But continuous trade in and out - that ain't going to make you money. Hit the bid and the MM will only gladly offload them again on the bid side.
Yes indeed Gorsuch, scarce are shares in such perfect storm of unpredictability. Don't get a Nomad (through like of trying by one party or lack of willing through another) and if you'd shorted these you'd have money to burn. They do get a Nomad and you'd shorted these after the Nomad announcement you could get burned. AND if...IF this was a leaky share (DYOR!) you'd have people making money all ways. If I could only see the future I'd be a rich man by now....
At this moment in time there are too many if's and but's to know what the hell is going to happen, although the price will no doubt keep drifting lower until a Nomad is employed.
answer your own question... Q:What happens if I maintain a short position in a stock that is delisted and declares bankruptcy? A:When you short sell you borrow the shares, sell them on the market, and then collect the proceeds as cash. If you wanted to get out of the position, you would have to buy back the same number of shares to repay the person (or brokerage) from whom you borrowed them. If you buy back the shares at a price lower than the price at which you originally sold them, you collect the difference - so short selling is a way to profit from a falling stock. But if the company is delisted and bankrupt, you don't have to pay back anyone because the shares are worthless Note: This is the best possible scenario for a short seller.
And im presuming if a Nomad is appointed and the BOD intentions are solid, share price should rise back to 2p.
The RNS reads "if a replacement Nomad is not appointed within one month of the date that Peel Hunt ceases to act as Nomad, admission of the Company's shares to trading on AIM will be cancelled" If this did happen, I presume our shares will be replaced at current value at the time. Does anyone know if this would happen instantly or would there be a waiting period?
As i said before, very clever play, get the NOMAD to resign then MWA delists. Lovely jubbly. Sorry if i am coming across as negative, but there are ulterior motives for the events that occurred over the past few months.
is 1p....
I think people are probably still giving them the benefit of the doubt, the problem is the new BOD have not said a word since they took power a month ago, hence nobody really knows whether they should be buying or selling. I've aired on the side of caution and sold 700k just before the market closed yesterday, although the sell didn't show up on the LSE or iii site, I can always buy back in later if the company is still here.
Why are more shares not on the move? better something than nothing.
It always concerns me that there are many people with much much bigger holdings than I have yet they say little or nothing. When it all hits the fan (as it may well do on 25th July) those responsible will walk away unscathed and with our money in their pockets. I guess that's life in the AIM market.
I seem to recall him saying there wasn't enough investor value in the shares, hence the company needed to be turned around with a new crew, well so far he has managed to knock off almost 50% of the share price in less than a month. I can live with losing a fair fight or a bet as it's a fact of life, but something here smells very rotten and I've never knowingly let anybody get away with trying to shaft me, the Chinese are almost untouchable so Mark Wood in my view takes the full brunt of what happens to this company and hence the shares, but unlike the Chinese there is nowhere for him to hide.
Cant see results coming this week.
Need a positive announcement of plans and intention from the new board. The year end ain't going to matter so much unless we know what the future holds for MWA.
Whats this all worth now? not that much i think. No part of this company is making money now. Kalaa probably glad to be gone. Just can't work out why so little shares are being traded. A few weeks will tell.
I think they have already been working together for quite a while, they seem to be working towards stealing this company for next to nothing, Ning will get to keep all the resource assets and Wood no doubt gets a big backhander.
Some indication of their plans going forward would be nice. Appointing a CEO would be a start. I'm still curious as to how/if Ning and W-Wood will work together
They have played this very well, Mr Ning is a smart guy.
I sold up for 1.85p when mpinga was ousted and these chaps came in. Things were just starting to turn around and the loan status was a great achievement - only for the people that achieved it to be thrown out for a bunch of crooks (who have teamed up with the chinese) to come back. So let's think... The chinese sell up most of their interest, get chairman of the board, oust their foe, nickel price has collapsed, gold is going nowhere. So. Have the chinese shot themselves? Not by a long shot. The results at BNC will be awful - they are shutting down production for a couple of months as well so they will be awful next month. Even mpinga said he would worry if nickel went below 12,000. When the SP is next to nothing, the chinese will say thank you very much, and take the lot. I was really excited about this company, but I wish I'd stayed out after selling at 4p. Instead I got greedy and came back at 2.5p and various intervals down to 1.3p. I can't see anything good here now. What a shame. Good luck to anyone brave enough to see this through - I hope you get a decent reward! I can't stomach it though! AIM really is starting to feel like roulette...
Shocking events decimating sp, chinese appearing to shoot themselves in the foot. So much for medium term nickel/gold and copper play!!! Gla
Disappointing volume here!
Bindura is releasing their results for full year ending March 31st 2015 this afternoon. One thing I noticed was that on the directors list Mpinga was down as the Chairman of Bindura, I wonder if he gets to keep that job, or will they force him out.
Newbie here GMA If there is, or are, some very sharp oriental minds at work on this, then why would they precipitate a crisis that could cost them serious money or loss of face. IMO, I think last Friday's announcement was anticipated and after the fall in the SP was evaluated, serious money started to pick up shares very cheaply. The potential for a new NOMAD not tied to the coat-tails of the previous BOD creates an opportunity for a forward looking advisor who is of the view that 'good old uncle Robert' in ZIM will have to meet His Maker sooner rather than later and that thereafter will open up the country to a whole wave of new investment. Before the present ideologues seized power, this country was a major agricultural and mining force in Southern Africa and the resources will still be available for the future, once a more pragmatic government is in place. I do not know if there is a Chinese equivalent to chess, but whatever, IMO, the game is only just beginning and stalemate is not inevitable.