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As of June '23, solgold made up just 0.3% of BR's World Mining Trust. About £3.8m at the time, in a fund where some holdings are well over £100m. They will buy and sell shares to a maintain their broad exposure (that's what investors want from WMT) but even a 200% 'manipilation' of solgol wouldn't move the needle their end.
BTW its not 20% its 16.67%...I've made the same mistake, but it still leaves BHP/NCM at c11.5/11.3, but...
Nobody has mentioned that it reduces NM/DGR/Tenstar by 16.67% as well...
So they must know something we don't know and I'm now certain its NOT to develop Cascabel...
Rk I will cross that bridge if it comes.
When I say I'm here to the end I mean sale or production.
I'm happy to wait for either as long as there is decent progress in the meantime(last 2 years too slow)but it does not feel like solg will be around in the next 6 months.
Its 10.8/10.7% of 100%...
If you factor in the 6.8% SOLG might be holding in Treasury, it comes down to an effetcive 10% or so, each...
"The intention of your Board is not to maintain its incumbency, but rather to ensure a re-rating of your Company is achieved without compromising corporate governance best practice. "
Double speak...corporate governance best practice is to put the entire Board up for re-election....
Clearly he feared the majority of the shareholders basically giving a vote of no confidence...
Now there's an interesting contemporary idea...
So smickster...are you honestly asking us to believe that if you were offered £1 by Christmas you woiuld turn it down...?
But is that not the point Q..the use of autobots and AI gives traders an advantage that through the speed of the equipment can make decisions much quicker than humans to dictate trends..probably why so many trading floors have replaced personnel with computers..the thing is the pi will always be the last to know
Ortex shows the short interest in solg and it seems strategic shorts interest around quiet(news wise) spells help push the price down.
This along with small volume make it easier to manipulate.
Of course I'm reading between the lines regarding BR and wouldn't expect them to make it easy to have a trail back to them being the world's largest fund managers.
Please tell me if I'm reading that wrong as happy to learn.
Nowt happening here today methinks. I'm off out to enjoy this nice day before winter sets in. Enjoy the petty bickering guy's!
Quady - I think we can agree now there ain't going to be no "going into production"?
And if you agree, how do you feel about that? Isn't much better now, knowing that Cascabel is most likely to be put up for sale asap rather than becoming some kind of money pit for us?
Personally I feel - whatever the short term turbulence - it has transformed our prospects after the bid I was hoping for in the summer never materialised.
MR, the people who post here are mainly long term holders and are not interested in minor daily trades. Frankly, I'm pretty sure no one's interested in whether you make fifty quid here or there, they are focussed on the implications of Friday's announcements and what they mean for the future of the company. Statements such as the one you posted this morning are quite simply irrelevant and if you'd been here for more than three minutes you'd understand just how regularly BR increase and decrease their holdings by a fraction or two.
Smickster you can always find evidence of manipulation, by looking at buying pattern's, shorting sites or just general trading patterns.
I have been here since 2012 and invested in 2013.
I have never seen any evidence of share manipulation. If you have evidence please post it and I will of course read it with interest.
Quite right rcgl2, as always put much better than me.
rcgl2, I think you're missing the point. It's not the instrument or the fact that's it's blackrock at all. None of that really matters. It's the 'timing' of it. Blackrock don't go through thresholds that often and in my experience, when they do... it's either before or after a key SOLG event or in anticipation of an event.
They were acting buying back or the 'shares on loan' were being bought back last time in the mid 30's when I think the sniff of an ri was coming.
Focus on the timing of their efforts and not the instrument or the fact it's blackrock.
Unfortunately for them, I think they didn't see the Mitsui or CGP news coming as Bothe events (although Mitsui unconfirmed) happened after their trading.
There's a time and place and purpose to deploying that 0.5% or 1% that they use. And they usually deploy it at key times. One would assume to there advantage. Focus on that.
Sound post rcgl
Rcgl , what happens to the loaned shares?
CD why would BlackRock want to cap the price at 16p when as you yourself keep reminding us they were buying at around 30p a couple of months ago? Do you seriously think one of the world's biggest asset managers is in the habit of deliberately buying high and selling low?
And you are completely missing the point about their financial instruments that you keep getting so excited about. They are a long equity fund manager. Their funds hold shares. In order to increase returns for those funds (and enable them to charge lower management fees) they lend out some of the shares in the market, in return for a fee.
If those shares are lent under a title transfer securities loan agreement then the fund no longer legally owns the shares. However, they have only been lent, and the fund is entitled to have them transferred back from the borrower at the end of the loan.
Therefore for the purposes of the TR1 disclosure the fund has to declare the total number of shares over which it exercises voting control, both the shares it owns outright and also the shares that it is entitled to receive back upon the termination of a stock loan.
There is nothing sinister about the fact that BR has loaned out some of their stock, it's normal business practice for their fund. They even have a page all about it on their website. The fact you see the securities lending financial instrument part on their TR1 is just so they are disclosing the total amount of shares over which they effectively have control.
Well done to the traders, don't listen to the rampers who are trading this while they ramp to high heaven.
In a way it’s helpful. Blackrock always ****ing about with their holding….. makes no difference and helps explain recent weakness.
This is non news ….
You'll never understand it addict:)
Not the RNS or series of RNS's we require to fire up Solgold! Too early in the week maybe?
Fort,
Let's hope with news in the pipeline any shorts are closed and we see a bit of money piling back in to solg and a steady rise.
You answer your own question Quady.
Lack of volume makes it easier to manipulate.
Its nothing to do with wider market(although that has affected us too).
Not sure why your so defensive on this and the idea someone may want to keep the price down on solg.
As I posted yesterday , if there is no manipulation what are the autobot doing? Open your eyes .
Smickster how can we have manipulation.
Are you saying every share in the FTSE 100 and FTSE 250 are manipulated. As they also have nearly all dropped.
We don't even get 0.5 of market capitalisation traded on a daily basis.
It's volume not manipulation.
When we get over 10 million shares traded at least on a daily basis, then if no share rise you may have a point.
But at these levels no way.