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It could be that MC is waiting for the clearing of the shares being sold to announce some price changing news, no point in producing good news into a selling market. Hopefully that won't be too long before the selling dries up.
If the mm's did put up the money for the 15m missing shares and are now off loading some to just keep the free warrants, then I would assume that as soon as they have unloaded their shares they will be keen to push the price up to maximise the value of the warrants they have picked up as freebies. We don't seem to be seeing big sales numbers at the end of the trading day as we have done previously when we have seen a large seller, that coupled with no notification of holding above 3% indicates the shares may well be in the hands of the mm's as has previously been suggested. I would just like to know how many shares are up for sale before we clear the decks rather than go on a drip, drip, day by day drop until we turn the corner.
Can't understand the share price at present, yesterday mid-morning I attempted to buy 50k of shares just under the bid price of 37.8p approx on a fill or kill execution, ii market makers wouldn't take the order as the said it was outside their parameters later in the day I purchased 100k for 37p. The point I'm making is that if there are millions of shares waiting to be sold at any price over 36.5p why did they not accept the order. Also, as I tracked the price through the day sometimes they would accept orders over 10k uptown 100k for a fixed price, other times of the day they would not accept giving a fixed price on anything over 10k, if they had instructions to sell over 36.5p they why the inconsistency. Obviously happy with the price I got but it is strange if there is a big overhang of shares which I believe there is. Just my observations.
I agree with regards to someone selling their placing whilst keeping their warrants, the question is how many did they purchase in the placing, hopefully not the full 15m or we will be here until next year clearing them. With a bit of luck they only purchased about 1-2m which should be well on the way to clearing looking at the purchases over the last week, then hopefully onwards and upwards otherwise we are in a range of 37p-40p until they clear them out.
Listening to the presenter before MC at the northern miners presentations on Wednesday, don't know who he was, he seemed to think that gold would stay in the $1700-$1770 range for the rest of the year with it rising to $2000 next year, having viewed all the optimistic opinions regarding gold on this board over the months I feel this might be a more realistic bet.
ISAPENSION, with regards to 'fill your boots', unfortunately lots of us lth have done that over the last 10 yrs years but we are still in the same situation, losing money. I agree that this will come good, but I feel that the timeline is a little longer than we all predict on this board, nothing MC said tonight convinced me of short term share moving news, From what I heard from MC tonight I'm looking at 18mths until we get a sustainable re-rate. Just my opinion and I'm sure there will be others that have totally the opposite opinion.
It was in the presentation and also confirmed in the Q&A's at the end. Offers out to all owners but it's all to do with how much individuals want and how much we are prepared to pay. MC did say that Covid was a problem in Nic but for some reason he says it was focusing the land owners so he was hopefull of more settlements, why this would impact I'm not sure but he was confident that by year end we would have all the land rights.
Cheers, nero, Seingred, I know what you mean in respect of not wanting this thread to turn into some we had 12-18 mths ago, but it's a genuine question, are we going to see some turmoil in the lead-up and after the elections or has Ortaga got rid of all the opposition which may mean a quiet election period, either way may affect the share price in my opinion, one as a positive the other as a negative.
Hopefully we will have a blue day today, I'm sure there are many who sold on the way down, like myself, who are still sitting on the sidelines, unlike me, trying to decide if we have hit the bottom before moving back up, if we get a couple of blue days then hopefully they will dive back in hoping not to miss out on coming news driving the price up faster.
Connect, as I said, I have been doing the same over the last 10 years but managed to get my average down to 39p by buying at 18p and in the 20's, so sold out at a decent profit which I didn't think that I would for a while, as I said, no crystal ball, just luck, it could have easily gone bad if MC dropped another RNS while I was out of the game. Good luck to all of us from now on, can't see me doing the same again into the future, I think things will be moving too fast for selling and re-buying at a lower price.
Cheers, Connect1, got sick of sitting on my hands as the price dropped over the previous 10 yrs after rises so I decided to sell last week the day before the RNS , lucky, manged 53p, bought back in at 37.75p, gained approx 45k shares, must say that it's been a nervous week watching the price drop hoping that no new news would be published that would jump the price up again, so yes, hopefully perfect timing.