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Nothing ever happens nothing happens at all Despite higher production and higher prices and a positive chart Anybody any thoughts on when the SP will start moving??
Someone I know who was at Indaba (South Africa) earlier in the year spoke with a Pala director who expressed the opinion that Pala were frustrated about the share price of SRX and the market generally. There has some decent news but I cannot see (save for the recent placing which seemed to be "for the boys") what three brokers, for whom the company is paying healthy fees, have done to promote the company. It was a relief to see that an independent broker, Beaufort had prepared a note with a buy recommendation. It makes one wonder what is going on.
We have 155,000 buys since and including 2 June when the Gangama commissioning was announced with n early mark up of .125 and only .112 with miniscule sales. We have a sale today of 10,461 shares (against the 155,000 buys) and immediately the price drops .125 despite the Beaufort first note with a buy recommendation with a target of 40 pence. If I did not know better one could think that the sale was strategically placed to push the price down for some nefarious reason; someone or some company not wanting the price to advance. And that is despite the fact that the bollinger bands have been narrowing which is an indication that there will be a break out up or down. There is no bad news on the horizon as far as I can see so that can only be a break out to the upside but if one is being cynical who or what may want to prevent a break out? A company that might want to take the private investors out? But then the cynic in me may be wrong, However thank goodness for the likes of Winnifrith if the cynic in me is proved right. Therefore taking the cynicism away I see a sharp correction to the upside near term.
How come Great News never seems to budge this stock?
Use this link https://goo.gl put your link into it ATB
It wont let me post the link please check the advfn site.
add, ********************** to the stars.
Morning all from the ADVFN thread. https://www.**********************/sierra-rutile-c-2-p-327
great news!! **IMHO** response @ sp: zero!?
and working ahead of minimum estimate. What good that will do us private investors I know not.
Nothing personal; that I assure you but every time that you pop up and post there is share shuffling going on!! We do necessarily need some news but we damn well deserve to have some news.
Cheap shares for Pala but at least one of the brokers got Legal and General in. It was not an open offer so the iis were made privy to information some of which may not have been in the public domain; we have no way of telling which is bound to lead to suspicion. Anyway it is what it is.
Dara - three brokers is crazy .Also the placing at the current share price was odd - surely they could have waited for a SP recovery and issued a lot less shares (the business is generating cash anyway so why did they need a placing?) - it would have made more sense to use spare cash to buy some shares back at current prices (although I accept this wouldn't be easy with such a small free float) Anyway - we should be in for a rising SP over the coming months
Ricky - agreed it makes a sorry read for those locals who depend on the iron ore mines for their living. It is the potential threat of unrest in the area of Marampa that is a concern. SRL are gratefully not involved in iron ore. SRL has a very large deposit of high grade rutile and the company recently signalled an increase in demand for the product not already contracted. I have been adding off and on. Gangama is about to be commissioned; why that is taking so long now that the plant is built beggars belief but once in production costs should reduce further and margins improve. I cannot see why the company needs three brokers; a waste of money especially since they appear to do precious little, besides the recent placing, to promote the company. The TA position has begun to look interesting with the bollinger bands narrowing sharply.
Interesting article in today's Sunday Times about the terrible state of the SL economy - brought on by the collapse in the price of Iron Ore.-Looking forward to getting out of this Company around the end of the year
I have some dividend earning stocks but also two AIM stocks in which I have more confidence that the board will deliver me good returns than the board of SRL that I wil see a return with SRL. One is a miner Berkeley Energia where the resource of uranium is of good quality and sizeable. The company is drilling for more. A DFS is due and the company will then imo conclude investment from a strategic partner plus do off take deals and get the finance to build the mine. Unlike Sisay, the CEO is continually promoting the company and the chairman turned a company, named Mantra which was not worth that much into a company which he sold for the benefit of shareholders for half a billion pounds. They want a return for themselves plus for ordinary shareholders (pis). The other company is a non miner DJI Holdings. Here the board of the company is exercising skill and connections and thus doing deals and bringing about returns. They have a proven platform. The share price is responding accordingly. What does Sisay do? In my view besides managing the workforce and being someone born in Sierra Leone,Sisay appears to do nothing. He does not promote the company and as I see it does nothing for ordinary shareholders. The recent placing was a placing for the benefit "of the boys". Ordinary private investors some of whom have been invested for years were deliberately excluded At least the easy options have stopped where recipients could cash them in at levels below exercise prices. It is a great shame that the company is housed away from the UK otherwise there would be an argument that QCA (corporate governance as summarised by Harbottle and Lewis soliciotors might be capable of being invoked. One of the QCA recommendations (and they are available on google) advocates good communication with shareholders. Have any of you tried emailing Sisay? I have emailed him and never had a reply to sensible questions. What a shame that there is not a collective 5% of shares that we can get together; otherwise we could call an egm and invite the removal of one or more members of the board and seek the appointment of someone aligned to private investors. The resolution would of course be voted down but it could cause a stir in the media.
I agree with you. Sisay told me that they were wanting to widen the shareholder base via an IPO and get the price up and move to the main market. By strangling the available shares available Pala have appeared to have depressed the price which is a point that Gibraltar was mentioning on more than one occasion over the past 6 months.
The only answer to these movements is in my opinion that Pala are buying up blocks from the II's who took stock in the placement. Paula could only take at the time based on their holding likewise the II's. Seems to me after the event Pala are mopping up from the II's giving them a turn.
Not sure that I got the figure right yesterday evening.There are now 596 million shares issued so that 1% = 5.96million If they moved down through a 1% they should notify the company. If it is not Pala shedding the stock it must be another ii. The buys and sells are not being left to the market but are being agreed off market. Pala have hitherto been very good at reporting movements in their %. Sorry to confuse.
Pala crossed 294 million to 318 million on their last announcement unless I have it wrong. A sale of say 10 million would not need a statement as I read it if I am right.
I don't see how Pala could have sold any - as there has been no announcement of a change in their holding - which they must do
I reckon that Pala have so far shed somewhere between 9m and 10m of the 23.75m they took on the placing. More to go? And if they are then over when will the brakes come off? When Gangama is commissioned or when Q 2 figures are released either before or just after the AGM? I agree with Gibraltar that the endgame is in sight. I am hopeful that, through that endgame, private investors will get their reward. In the meantime Pala can get a return on their share of the placing for which they were the lead investor.
I am not in Gibraltar's league with these but I have quite a few. Do not quite understand your post but ten.......A lot more shuffling today. If I am right and I may well not be and Pala are offloading their placement shares for a decent turn (and good luck to them) there is clearly a demand for the stock. We know that the placing was over-subscribed.
Yes - I am again guessing but it seems that the dealers have little stock so that if sellers dry up noticing that things maybe about to happen this year, any decent buys will move the sp up. Deals between iis off market so to speak will do little to move the price.