Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Simms, I think it was in the Q&A session at the end of the Shares Mag presentation posted by Cambells on the 17th Nov, I think the actual presentation was in early September. Tried to run the video again to find the exact point but it won't load for me. MC definitely stated he had had two banks contact him already but he would need to speak to them before any decisions would be made, not sure if it was his intention to take them up on the offers but at least it shows we have options. Hopefully someone else may be able to confirm for you if you can't get the video to run.
Let's not forget that the better the district play looks more offers to fund the building of the mine and at better rates should follow as the potential profitability of the mine increases substantially. Let's not forget that MC has already had two offers of finance from two additional banks as stated in his last presentation and that he would need to speak to them to see what they had to offer. Upgrading the potential of the mine will hopefully bring a few more banks knocking at his door.
Having read the article which I posted yesterday it wouldn't surprise me if the mm's picked up stock at the bottom and have moved the price to generate 'buys' but not 'sells' at these prices i.e. good spread, with the 'ask' at a price which gives a lot of upside in the short term hence encouraging high volume on the buy side but the 'bid' not being high enough to encourage any sells as they don't want to take on more and average the cost of their holding higher. If this theory is right then as soon as the mm's have made their money and levelled their book they will move this higher to again generate 'volume'. Just a theory which may prove right or wrong.
Just found this in my archives which makes interesting reading regarding mm's tactics in relation to moving the bid and ask prices. It relates to the American 'Over the Counter' trading but is presumably relevant to all mm's. Good read for a quiet Sunday afternoon. http://shockertrades.blogspot.com/2011/05/market-maker-speaks-out-ways-of-market.html. Just copy and paste it in another window and it should work.
Always a vote of confidence when directors put their hands in their pockets, even at those ridiculously low prices. Nevertheless, if the opportunity arises for them due to a change in strategy by an investment company then good luck to them, we all had the opportunity to buy at those prices, some did some didn't. Hopefully the price will now move north back to a more realistic valuation.
Cannot believe that PI's are selling at these prices unless purchases have been made on credit and T20 settlements, interested to hear what they believe the downside may be from here, how long before the share turns into an upward trend and what they believe it will settle at either downside or upside. Ah well, everyone to their own investment strategy, personally, I'm still buying at these prices.
26p purchase, does this mean the end of the institutional sell-off and subsequent steady rise back to normality, interesting that they have now dropped the ask to reflect buys and sells more accurately, blue back on the trading screen.
Are the duplicate trades at exactly the same prices or is there a slight difference which would mean they are showing the purchase and matching sale from the institutional seller, as we have seen the bid and ask are within 0.05p for these sales/purchases.
As I said previously, this is fairly standard for investment groups to review where they invest before year end, it may just be that they have decided to move out of gold or out of South America or it may be they want to completely change the risk/return on their overall portfolio, who knows, but they have made a decision and that's that. It would be interesting to know at what point they began to unload, when the price was in the 40p's, high 30's or more recently when it was low 30's, my guess is in the 40's which could mean that they have unloaded quite a lot. It may give us an idea by looking back over the trades to see where all the trades appear to be just above the bid on a much broader spread.
It appear obvious that an investment group has had an end of year portfolio review and decided to remove CNR from their portfolio, if memory serves me well it has happened previously a few years ago, once they have cleared the sale then this will revert back to it's proper trading range which I believe will be in the 45p-55p range.