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SP up more than 26% in the last 3 weeks - on the 31st May we discovered that the previous short position of 17,457,489 had been cut to 16,830,747. Next tuesday we should learn what the short position was on the 14th of June and we'll be able to see if major closing of the shorts on Largo is responsible for the recovery in their Share price.

Yep Brad I suspect the latter,

Remember that our own Mokopane Mag3 and Mag4 layers at 65% and 62% magnetite respectively (page 10 https://www.thebushveldperspective.com/slides/slide/mokopane-pfs-jan-2016-27 )

pb940 - presumably that 'concentrate' is only about 1.5% Vanadium. 0.79 / 2 is c. 40% which would correspond to what you would get if you went as far as crushing and magnetically separating VTM ore

Mr Realistic - well I need a shower ....

Ophidian - what he is suggesting of course is that the shorter will have to buy more shares to give back to the tame seller that has been feeding millions of shares into the market in the last 6 months.

Brilliantly wrong.

biganuf - don't think that that listing shows all of the big players. If you add up all their holdings it amounts to a total value of precisely 4.7M USD.

The 21.9M shares held by Vaneck REMX in BMN equate to more than that and BMN is less than 3% of the total fund value.

Adam - you have no idea what you are talking about. The BORROWED shares are SOLD into the market, then later on once the price has been reduced other shares are BOUGHT in the market and HANDED BACK to the lender.

How nice to see these old friends back yet again.

Daisan - the TPEP short position in the Vaneck REMX ETF does not need to change when other people sell out of it.

McGrgco - you are correct the MVIS index upon which the Vaneck REMX ETF is modelled has indeed changed. This resulted in their holding in Largo not changing on the end of 18th June, whilst BMN's indeed did fall by 1.11M. Since the 21st May every change I have observed in BMN holding (both positive and negative) has been accompanied by an identical change in the percentage Largo holding, indicating that the weights were not changing. This was the first day upon which this has not been true.

Largo's constituent weighting in the MVIS index is now 4.01% and BMN's 2.97%, before yesterday both were in the 3's.

Indeed, of the 108 references to Vanchem in there this is one that immediately jumps out at me on page 8n:-

Brits
Publish a maiden Mineral Resource estimate during the June 2019 quarter.
Become a future source of raw material for the Vametco plant, and if required, concentrate feed for the Vanchem plant.

We are now almost 2/3rds of the way through June and so a maiden resource for Brits, which could double the available resource at Vametco (already increased by 187% 4 weeks ago), could drop at any moment.

As we have seen this is not always with an RNS at 7am, sometimes it comes at 9am, like the last one, sometimes at 11am, and sometimes 15 minutes before the end of trading - anyone thinking they can second guess the company is likely to be playing with fire.

European ferrovanadium prices increase [06-19]
Chinese ammonium metavanadate prices increase [06-19]
Chinese vanadium pentoxide flake prices increase [06-18]
Chinese vanadium pentoxide powder prices increase [06-18]

No wonder shorters are deciding to get out. The only question is which of them is left holding the baby.

That's really a big one Tyfoon.

8 trades in 4 seconds, 6 of which are exactly on 25.0p

Coincidence ? No it's a computer trading algorithm

Cheers GS - it's the busiest day since the 30th May - on that day though there was strong buying by Vaneck REMX

mick-b - you misunderstand the meaning of 'Buy' and 'Sell'. Of course if A sells to B then B buys from A - the real meaning of defining trades as 'Buys' or 'Sells' is revealed if you choose to define the trades in terms of the perspective relative to the Private Investor - i.e. a 'Buy' is when a private investor buys from the market (maker) and a 'Sell' is when the private investor sells to the market (maker). As market makers do not create shares themselves over time they have to buy precisely as many shares as they sell - thus very simple counting allows you to understand if the market makers are currently short of shares (or more unusually) they are long, i.e. have shares in their pot that they are keen to sell (at higher prices).

numpty that was from yesterday

Daisan - a simple answer to the question of why 'decent' news has as yet made no different is that there is a share selling overhang - see Erongo (TBP passim) https://www.thebushveldperspective.com/slides/slide/bushveld-minerals-in-a-minute-50

from yesterday reported - that's at least 3x500K yesterday plus a 1.11M trade. I think that some of these are inter-Market Maker movements and so do not represent real changes in the nett MM position.

Careful - they were not.