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MMs aren’t involved BBG if you’re looking at L2 they’re the ones with a four letter code (eg WINS is winter flood securities)
Every other entry is DMA
And the w⚓️ was back briefly (17ks) and has now vanished
Intriguing
Its a resistant level because someone has placed 1,2m shares in 5 lots between 10.14p - 10.48p
Someone is wanting a flat SP to accumulate whatever they can at this level...
would love to know how much cash we have in the bank right now. When they let this go it will fly
Oh look it went up 😀
Easy to spot when you’ve been trading this long
Eloro, 10p is a significant resistance level, those nearly always take three runs to crack
Yep. The MM's don't know if they are Arthur or Martha
Bud depth to ask 2:1
The lurker just left but he’s been in and out as far as I’ve been watching
Direction shortly should be up
Add, busy at work. Don't worry, there is still plenty of time for Scott to sabotage the SP😆 Look, we can't even hold 10p 🙄
Anyone got access to L2 to describe what today's book looks like? Cheers
10.40 to buy atm
I see someone popped in and bought 202228 shares in 2 tranches at circa 9.8 p for just under 20k and just sold them for £360 profit ..not bad work before morning coffee !
Cheers HfH, Quady, Add.... makes sense for Blanca to be incorporated with Cascabel given its proximity and a nice little bonus for whoever walks away with the prize.
Nice to see a retrace to some degree from yesterday's shenanigans, would love to know what's going on behind the scenes but yesterday does look like a tree shake of poor little PIs who don't have their finger on the pulse.
Agree Add, an asset sale of this kind does seem significant enough that there must be some regs in play but I guess greed and leaky bid teams will enevitably mean in the absence of news the sp will tell its own story.
Tick tock... ATB gang, C
11p incoming
Gl all
So, back over 10p. I could have sworn we were told it was on an inexorable decline to 5p?
It's all too easy to forget these days... but another pointer worth noting is when Jiangxi picked off another 1% in open market at 18p. I think it was when Blackrock were selling so they gleefully took that stock.
So if you apply the same logic... why wouldn't the chinese be picking off stock at 9p?? Well... there is a solid reason for that... they can't be seen to be building a stake in open market IF THEY ARE IN TALKS WHICH CONTAIN INSIDE INFORMATION.
That's the only reason I can think of as to why they thought 18p was fine to top up at and 9p isn't.
That's your clearest indicator to date that 'TALK's' have been underway.
Morning HFM
I said I believe Blanca will be in-cooperated into Cascabel.
Here is the recent announcement on Blanca.
Don't get too excited the grades are meaningless as not achieved from core drilling.
Probably rock chip sampling.
https://www.sharesmagazine.co.uk/news/market/LSE20240319070009_5110103/blanca-nieves-project-update
Agree Fort, the market is playing games and us poor OI's pick up on scraps of news. No clue what the reality is behind the screen! Anyway, it WILL be revealed - at some point, LOL!
I see we are crawling back up today again.
As it;s ISA Season and the perception on Miners is bound to undergo a radical change - for the GOOD - this can only play in our favour. The lie about inflation is excellent for the price of gold!
I do expect the strategic review to conclude with a sale of all non core assets. One would assume this would mean the divestment of all Cornerstone, Green Rock, Cruz del Sol, Carnegie Ridge and Valle Rico assets. There must be over 50 tenaments that have been bundled up and I have no idea how much they would be worth, but I'm guessing they are worth well in excess of the current Mcap? Not long to keep guessing as I think Chris will get it resolved this month. Less than 20 trading days!
Thank you addicknt.
Morning Jezzoo I suspect more in addicknts line.
My understanding is that a deal is struck, then it's signed dependant on share holder consent.
I suspect it's then an announcement is made.
But if the due diligence has not been fully disclosed then complications can arise even after signing.
So over to addicknt for a more complete answer.
Q, not strictly true. Given that a transformational disposal of this nature is price sensitive, if the sp started racing away a statement would be required. In fact, if we got to HoTs I'm fairly certain an announcement would be required.
I'm not sure of the modern rules, but back in the good ol' days when I was involved in this type of transaction, depending on the value of the assets being disposed versus the current balance sheet value, it would qualify as a Class 1 or 2 transaction.
Quady: At what level does the size of the deal become a shareholder vote event. IE. cannot be signed and delivered without SH consent ?
Good question hfm.
Impossible from my point of view to estimate.
Porvenir was nearing a MRE.
Tandy seems to have some value.
I suspect blanca is going to be included in Cascabel eventually.
Others have rock chip sampling and some limited drilling, but without MRE's I don't suspect value can be attributed.
I am just looking at this, as apart from the rumour we have nothing to go on
So could be another false hope.
Thank you Quady for your response. Last night, Novicehunter stated as follows:
“Have you guys seen the TSX price this evening ? I think someone is having a tin bath with us here so expect all of today’s losses back tomorrow and some icing on top I believe”
I couldn’t see the price rise that Novicehunter was alluding to, so thought I would check his source.
Volume has been huge of late but we must remember that we are single digits so 24m traded yesterday is a bit like 8m traded at 27p levels which puts it in perspective in cash terms.
Blackrock and Norges were big buyers a couple of years ago when the sp was 36p going post Darryl's PFS. They clearly saw big value beyond 36p or they wuldn't have been buying.
Nothing has changed at Alpala... in fact it's even more derisked now than it was back then along with another $150m spent on it to boot.
So the market can play all the poor valuation games it likes but the reality is... the big boy experts like Blackrock were buyers back then. Yes... they sold out when they saw CGP boys coming in along with inflation woes and weakeness in smaller miners etc etc but it's the 'previous' value perception that fold need reminding of. It will come again.
OK, different rules for an asset sale then, interesting. Can anyone hazard a guess as to what the rest of the polio and Porvenir are work... got to be a he'll of a lot more than the current market cap?