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For a few minutes this afternoon I thought things were looking up lol.
"Small trades of little value, are?"
This share is famous for, you will only find something loggin in 08:00 on the dot, to sell in pennies and do it throughout the day.
For example on monday this sell of 0.73 with no trade either side of it. So someone logged into their broker to sell 0.73p of shares. Happens all the time.
06-Mar-23 12:58:07 1.311 56 Sell* 1.30 1.40 0.73
no argument there, though can you shed any light on:
very little volume, buys outweigh sells and for example we are 7% down, today buys outweigh sells and nothing.
Small trades of little value, are?
I hardly think given the volumn sold/bought vs the actual volumn in circulation todays buys/sells would amount to very much.
Let's see what happens in the coming weeks.
Averaging down , let's see if it turns anytime soon. Volume today, Buys outweigh Sells and yet not a flicker.
A few decent buys will hopefully turn this green- at some stage !
Am not surprised at all, its normally deadly silence regardning RNS releases.
With the new auditor being passed and the biggest 4 shareholders voting it through eventually, and the resignation of one of the BOD since, I was hoping we would have had an annoucement of some kind..but nothing. If just for confirmation that the 4 biggest shareholders were now calling the shots...and to nulify that useless BOD.
Anybody find it odd, we have never had a media interview or any written interview from the present BOD or CEO..silence..in fact the last one I can remember was when it was Range Resource and Rory Scott Russell was CEO in 2014!!!!
They alway say never invest in Austrailian mining companies!!
The only way you can exit here is keep averaging down (if you can afford it of course) and get out a spike which comes along. Don't wait til the end of the day on it either, as often it will be a pump/dump during the day.
Unless something comes out quickly, this will probably go back under a penny again.
Background seller maybe? Someone offloading imho if anyone followed twitter rampers like suhail mohmed, ramping sta nd mpl, both have dropped by more than 4% even after attempting to call the bottom with all the waffle that is spoken. Then when they know they've got it wrong, they'll make the account private on twitter, nd when it starts rising , they make the account public and brag, saying they were right all along lol to deceive people into believing he was right all along imho
Vol Sold 251,860
Vol Bought 266,933
He's blocked his tweets, can't face up the fact he's wrong....ha jokes of the city imho
A Suhail, he has a habit of dropping in here to ramp the hell out of STA then when the price hits it high he promptly disappears, no doubt to watch his short.
Nothing but a culture.
I find it incredible, no further update has been released by the company!
Suhailmohmed on twitter 'Still looks like floor reached with just 1 market maker on 1.50p offer with others so much higher'...evident and clueless commentary to trap new investors....the floor is yet to be reached. 1p incoming. Loverly down trend in full effect imho
Nice to see a little honesty on this board again rather than the blatant hot air of 5p tomorrow.
A lot in Landau's pocket I would suggest?
Totally agree with your sentiment CFQ. Not one of them has added an ounce of value while taking nice fat salaries at the expense of people who don't do their homework.
Never forget in the days of RRL this was valued at over £18 a share in today's money, now where has all that value ended up?
It beggars belief they still claim to be in O&G, they do nothing.
"Gu is no loss, he's done nothing for STA in his time."
Hopefully the other numpties on the board, who have done likewise, will get the boot
np :-)
Gu is no loss, he's done nothing for STA in his time. The only thing he has achieved imho is lining his own pockets. It would be interesting to know if he's offloaded all his free shares on the spikes?
l expect emptying his draws is the most he's ever done
"Any thoughts on how pursuing one of our major shareholders through court will play out? "
Complicated isn't the work. STA won the case against LandOcean, and from what I can gather, didn't pay, then did pay some back in chunks (not all). STA were using Dentons to persue the rest through arbiation, but the relationship between Dentons and STA broke down, as below
05/12/2023
https://www.lse.co.uk/rns/STA/termination-of-conditional-fee-agreement-w1q9vjle5gl6cki.html
This is when the c*** really hit the fans, and must have been the tipping point for the 4 major shareholders, resulting in voting down new auditor, before passing it in Feb 2023.
Been a right S show. Enjoy the RNS reading LOL
Any thoughts on how pursuing one of our major shareholders through court will play out?
Odd how they have retained their % stake, whilst we are seeking £6 Million (don't quote me on this) from them.
Settlement?
Am going to presume, this may have been part of the deal to pass the new auditor.
This is 19/12/2022 - when the resolution for auditor failed:
https://www.lse.co.uk/rns/STA/update-on-gm-accounts-and-suspension-of-shares-iaoiy8hx25ru0yz.html
Inbetween these two dates, am going to presume that some/or all of the 4 major shareholders, voted down the above resolution (due to share performance - lack of action...etc)
1 Beijing Sibo Investment Management LP 24,476,210 16.22%
2 Preceding Max Ltd 23,561,326 15.62%
3 LandOcean Energy Services Co Ltd 17,390,770 11.53%
4 Sramek Biodynamics Holdings Limited 15,365,998 10.18%
31/01/2023 - when the resolution for new auditor passed
https://www.lse.co.uk/rns/STA/results-of-general-meeting-jwbcp9spvnn51pp.html
The four 4 major shareholders, must have been giving reassurances (resignation of board members), change of direction, or whatever, before passing the resolution on the 31/01/2023.
Been a power struggle between some of major shareholders and the board for a few years now. Remember. also we were taking LandOcean to court, who presently hold over 11% of the company.
Present board have been useless (like obviously the ones beforehand), so might aswell give the major shareholders a go.
Nowt to lose for us well under.