RE: Vaneck29 Oct 2019 06:36
Yesterday, according to Vaneck they increased their holding by 1.55 Million - this brings their total to c. 15.05M . Yesterday was also a rebalancing date for the MVIS® Global Rare Earth/Strategic Metals Index (MVREMXTR) index that the REMX ETF is meant to track - this has revised the BMN element down from around 3.5% to 3.25% - however this drop is primarily due to the fact that the index has actually been performing reasonably well over the last week. As a result the target holding for BMN drops only from c. 17.5M to c. 17.16M.
The 1.55 Million of Buys for Vaneck, reported by them on Monday would normally have been attributable to trades that would have been visible in the market on Friday. No such trades are visible then, or reported late on Monday and none of the trades on Thursday of last week can be made to come out to this number either. It seems to me that these trades did happen last week but their reporting has been deliberately delayed even more than the normal 1 day, precisely because we have called it so correctly here.
The Market Makers cannot abide having their little games exposed like this as it calls into question their legitimacy.
Furthermore it raises the question of the legitimacy of the entire AIM market - why should investors have anything to do with a market that so clearly operates simply as a mechanism to extract profits from early stage companies and their investors ?
I do not think that AIM can continue like this for much longer in an era full of crowdfunding and distributed blockchain platforms. At some point someone will come up with ways to allow collaborative and distributed checking of company accounts, much as blockchain allows distributed checking of the validity of transactions. At that point the role of the Nomad and the centralised agencies that control the market will have become redundant and the AIM market will simply be evolved out of existence.
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