RE: SA power cuts9 Dec 2019 22:10
for the record the rise from 22p to 27p on the 21st October was most unlikely to be anything to do with any RNS's but simply the Market Makers spiking the price up on the buying by Vaneck which started that week - in the following days the buys reported by Vaneck were:- 500,000 then 3,000,000 then 3,200,000 then 2,738,654.
I believe that after Vaneck bought these shares to reflect the fact that they put BMN back into the REMX Index it is quite possible that they will have immediately then loaned them out to someone who was uses the shares to short the price at the 27p level whilst attempting to drive the SP down to the 20p point where significant spreadbet holdings have in the past been forced into a cash call.
In this way it would appear that Vaneck ETF fundholders are getting the rough end of the stick - first they get spiked on their share purchases then their holdings get shorted courtesy of their very own shares they have forked out for. The only question that remain in my mind is who picks up the rent from the loaning out of the shares from the Vaneck fund - does this income make it back to the ETF fundholders (though I can't quite see how as the value of their holding seems purely defined by the SP's of the fund components) or do the operators of the ETF, Vaneck themselves, get to keep this income ? If the latter then I am struggling to understand why this is not considered a huge scandal.