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Tyfoon - because the Buyer was more than happy for a pseudo-market to be used to drive down the price they had to pay First Island for the shares. First Island were first to the table, indicating that they wanted the cash. This put them in the position of weakness, which has been taken advantage of by both the MMs and the Buyer.

kev - because once you have sold them to someone you cannot force them to sell them back to you

YTSS more puffery from Professor Michael 'Vanadium-is-a-rare-and-exotic-element' Aziz.

Ophidian - for the avoidance of doubt my analysis yielded 22,549,909 First Island shares remaining yesterday.

The selling of 10.55M since the 28th of September was absolutely needed in order to supply shares that were bought by hungry PIs in that period despite the MMs racking up a short position of c. 4M.

Thus it would more than reasonable to consider that the 15M bought this morning will be supplied out of the 22.55M First Island shares remaining, leaving 7.55M to go to be used to fill the 4M short plus 3.55M for a nice little long position for them ahead of the inevitable rerate that will occur once the day trading lemmings turn up to the party.

Ophidian - the First Island share sells that have been reported in the last 4 weeks have been needed to supply the shares that have been bought over the last 4 weeks. It is precisely that analysis which yields the 22M figure you quoted.

Daisan - why would they agree to increase the Share price when they have a short position then ?

Endion - why do you think that a buy of that size should provide any lift - if the MMs already have the shares they need but just haven't told us about it yet then it need not have any lift.

Endion - is up 3.5% in the first hour of trading not enough for you ?

Daisan - no with the 1.8M sold by First Island yesterday that only left 22.5M outstanding

15M to the mystery buyer.
4M to clear the MM short
3.5M to allow them to be long when the price appreciates (thanks First Island nice to do business with you. Come back next time you want to be ripped off).

Caution mes braves - this could just be yet another case of them reporting a trade which subsequently gets reversed 'ohh did we say 15 million, sorry that should have been 15 thousand, so sorry you know how easy it is to make that mistake'

The reason - perhaps to try and undermine the clarity with which we are now able to pick apart the Market Maker's behaviour.

Pigpen around 33M

Or it could just be a load of b******s - remember how difficult they found typing 750,000 correctly yesterday.

That looks interesting

I had not pointed it out earlier but the slope of the selldown extrapolation line that I drew in that article is EXACTLY 1 million shares per day.

What is the likelihood of this happening purely by chance ? Or of the selldown rate before the 1st Oct being so similar to the the selldown rate in the last 2 weeks. ?

Thus it seems entirely plausible that the First Island selldown is rate limited to 1M/day.

Anyone wishing to build a stake at sub 30p will have to crack on - if I was a market maker I would wait until there was only about 10M First Island shares left, then close my 4-5M short and flip the other way to give myself a 5M long position that I could take into the inevitable rerate.

With only 22M First Island shares outstanding this may only leave 12 days left to buy at less than 30p

this article

https://www.thebushveldperspective.com/when-will-first-island-clear

Yes I do PR77

if you read the article then so will you

according to my analysis 1.8M First Island shares went yesterday.

https://www.thebushveldperspective.com/blog/public-trade-analysis-6/post/trading-analysis-29th-oct-2018-333

YTSS - I agree but perhaps not yet , let's get some of BBN's articles about BE out first to whet their appetites and then do a push about a week before the seminar

As requested

https://www.thebushveldperspective.com/trading-analysis-29th-oct-2018

like to know what occurred in trading today ?