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Tree shake?
There have been over 40m or more shares traded in the 34p to 35p level over the last few days most of which after hours or late posted trades.
Follow the money not the share price movements. Share price movements can change very quickly. This could close at with a 10m block trade at 34p for all we know. The mm's have big orders to fill. This has been evident by the large trades and the likes of Norge bank buying up over 22m shares in last few months.
Any stock the mm's can get off pi's is a bonus to them if they have a buyer with big order in at 33p or 34p as per last couple of days.
The protest stuff in Ecuador is good news. Trust me... if you are Barrick, Rio, Codelco and others, then if you can't get new licences then you will have to buy old ones!!! Get it!!??
Up she goes gla!!
Fortissimo totally agree there
Don't believe MM tree shake comments
Fort, your last sentence is interesting. We've been trying to flog/jv some of our concessions for a long time now and despite being told there's significant interest and deals are about to announced, absolutely sod-all has actually happened.
It's this type of announcement that has historically led to a great deal of cynicism and I'd rather hoped we'd seen the back of it.
It has been well over a year since SOLG announced opening the doors and data books to strategic partners on grass root licence blocks as well as some more advanced concessions. Is 12months+ too long to sit for such deals? I would sit on the fence on that one. I think they will unveil a plan along with JV deals soon. EGM next week, then news flow starts again. Looking at past EGM's and AGM's SOLG do seem to have a habit of releasing some good news before the event. Moran update perhaps?
Its normal market reaction to shake out the greedy little buggers making fat profits .
Buy on the dips !
Fortissimo - you’re new here but I find your posts constructive and illuminating. Thank you.
Meanwhile back at the ranch the SP went up in line with barrack buying now they’ve stopped, so too has the sp.
Operations normal now.
Z
Come on Z - surely you know that Fortissimo is the poster formerly known as Colonel Drake?
If that is the case - Welcome Back, CD!
Welcome back CD
What odds on a bumper RNS tomorrow morning... dirty shysters !!! wink wink ; o ))
We are still in the same position as we have been all day i.e buys and sells are almost exactly the same. So how do we explain a 14% drop? It seems very odd to me.
Welcome back Colonel...
Bought another 78,391 at c20 at the close...
Rude not to...down 17% in a couple of days...story's still the same...
GLA
Sorry...fat thumbs...c29...predictive text believe it or not...
Biggest drop I have seen in a long time
Hi Addicknt - this is not intended to be patronising or rude, but every trade is both a buy and a sell. One party is buying and one is selling. Which of course you know. The exchange doesn't publish a trade as a buy or a sell, it's just a trade. The websites such as LSE print them as buy or sell based on price in relation to the spread but I think it's meaningless really.
At best you could say that an O trade with a market maker represents shares being bought by the street or sold from the street... But the A trades are just direct trades between two participants so not sure how you can characterise such a trade as being a buy or a sell, since it is both.
Looking at todays trades there have been approx 1120, of which about 900 were A trades.
How do we explain a 14% drop? Because there are sellers on the book who are willing to sell their shares at 14% less than what they could have been sold for yesterday!
Rcgl, thanks for the reply and I take it in the spirit it was meant. I'm just being very dense. Equilibrium in markets suggest to price stability.
I know that the designation of Buy/Sell can be a bit arbitary, but how can the late trade at 16:40:08 be a Sell when it is so far ahead of the Ask?
Killjoy ....because it could have been done anytime prior to 16.35 when the book is closed even to those with DMA ...they a late reported trades not late trades ...... you may well find there were stop losses being closed out too .....we'll be the last to know ....our operations unaffected by the political unrest thus far according to the company
"This isn't ideal and disruptive to many in Ecuador. We will continue to monitor the situation closely. No impact on our operations at this point. The impact is more felt by producing operations with oil output negatively impacted for example"
This drop could be about anything, a placing ??.... personally I doubt it but who knows
The LSE designation of trades is completely arbitrary...
The algorithm calculates the mean price between bid and offer when the trade is booked and allocated SELL if its below the mean and buy if its above.
Means absolutely nothing...dont worry about it.
It may have been a sell, or it may have been a late reported buy at a time when the SP was higher...