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Just a thought, but possibly the exercise of the remaining 12p employee shares options is being informally expedited by the company in the run up to the demerger to clear up the books. I have heard BB contributors say that on other demergers in the past, though I don't know if it is a real factor. Today's further take up of employee options might then perhaps have been encouraged by the company and possibly with forward selling of the employee's existing shares to free up cash to buy the options. The number of shares involved today is modest but it and other admissions like it might be a further component of the current temporary drag on the share price. Aside from that, today's drop is no doubt also partly due to the MMs taking advantage of the generally depressed market conditions today.
The below Trading 212 page says that OTC is incompatible with ISA and they will liquidate OTC stocks held in ISA within 30 days. Need to find definitive ISA regs. to verify.
https://helpcentre.**************/hc/en-us/articles/360009775317-What-is-an-OTC-Trading-Stock-
Those trades are shown on ADVFN too and both marked as buys and the pricing looks to me to fit as both buys rather than sell followed by buy.
Trading 212 is the other suggestion on the finder.com list.
Bit of a pain that TILS didn't start this on AIM like they originally said they would.
NB. We cannot keep the OTC holding within an ISA. I am not yet clear on what implications that has. If the stock is ascribed a value while held within an HL ISA will it only attract capital gains on any subsequent gains after that initial valuation point???
Hi Scott, I started exploring this question too on the other Accustem thread here. I am starting to think that Saxo Markets might be a viable choice. https://www.finder.com/uk/pink-sheet-stocks
Perhaps Saxo Markets is a good option. The below website suggests them or Trading 212.
https://www.finder.com/uk/pink-sheet-stocks.
Saxo Markets have an online platform and prices similar to IG (8 pounds per trade) and apparently enable OTC pink sheet trading.
As I understand it HL don't enable trading on OTC. Does anyone recommend a broker for trading the OTC shares? Could/ should we use a US firm like Fidelity or a UK firm like Trading 212 ? https://www.stockbrokers.com/guides/pennystocks
I guess that the lucky early-bird who bought up the initial small float for a cent or two will have made a guaranteed good return perhaps of 50 bags or so, but anyone buying at the informal price of 40 to 60 cents now could end up out of pocket, especially if the MMs decide that the true official opening price should be say 25 or 30 cents.
As Bluebelly noted, the stock is apparently not officially trading yet through MMs but being bought and sold on unsolicited informal orders. The warning notice on the exchange explains that this is not an official shareprice of the exchange and wont be until MMS are appointed to control the shareprice.
Yes. LSE does seem to have a much lower accuracy in ascribing buys and sells than, for example, ADVFN which marks those trades as 'Unknown'. Also, you may be right that the MMs and algos are trying to disguise on-going large-scale buying by manipulation. Whether buy or sell, I think we are all agreed that the fundamentals for this share look very strong and that the tide will turn soon in favour of considerable upwards movement.
It looks to me too that the drag on this share is indeed simply churn of the April 20p placing shares plus any remaining overhang from any remaining employee and contractor 12p warrants that were issued last year/ early this year being churned through. The 4 million shares late-reported transactions yesterday are likely to be a substantial chunk of that. If we keep up yesterday's momentum the remainder may even clear within a matter of just a few days or a few weeks at most. All we need is a bit more patience. After the overhang is cleared the smaller number of as-yet unexercised warrants are all at substantially higher prices than today (apparently most at 60p and 90p and expiring in September) and may actually help with pulling the share price up within the next six weeks. https://twitter.com/Bubbles44259564/status/1415423473577496576/photo/1
Mining Journal.com is, as they say 'the world's leading mining and investment business title' with annual subscription cost of 1,500 pounds and one of their journalists is telling their readership that of the (nearly thousand) listed mining companies on the London exchange this stock is arguably the most undervalued. Surely that underscores that the de-rampers on here have got it completely wrong. This share surely has the potential to re-rate hard upwardly soon and certainly well before production is arrived at.
Does anyone here subscribe to this journal ? It sounds like the massive under-valuing of this stock is just starting to get more widely recognized so surely it should start re-rating upwards very soon.
Not that much in the way of sells today - just not that much buying either yet. Most of the trades up to 11:30 this morning were buys at 48p, miss-reported here on LSE, and which is apparent whenever you get quotes or make trades. There has been little volume so-far today and the update to the official bid and offer prices lags quite a lot making LSE miss-allocate between buys and sells. So far today buys have outweighed sells until just the last half hour and even now are not far from balancing sells but the price is down 2p. The bid dipped to 46p at or before 10:55 and has held that level since. Judging by the size of trades, unlike last time, there are no major sellers depressing the price currently, just sporadic small PI sells of a few thousand and over-reaction by the MMs. The MMS have been up to their usual games, walking the price down over the last couple of days and today due to the low volume, despite equal or more buys than sells the last two days, to encourage greater liquidity. It wouldn't take much of an increase in buying volume from here for the share price to shoot back up rapidly. Any of the awaited catalysts will achieve that.
The share price action today looks to be fairly 'predictable ' and part of a repeated pattern. Over the last few days it has been recovering from a substantial drop and it is unsurprising that quite a few will have bought the drop from the low 40s to trade knowing that the 70p placing target is very likely to be soon surpassed. The share price actually got close to that this morning and traders sold, bringing the price back to near where we started the day. As an aside, the MMs are adding to volatility by running the share-price up too quickly on low volume. Either way, it seems likely that after this consolidation 70p will still be breached pretty soon, possibly even before the OTC news that the rest of us are all waiting for and which could arrive any day now.
The last 1 1/2 hours trades that show on the Aquis exchange do not yet show on ADVFN. The last trade was a buy for 40.4p.
The Aquis exchange website is more accurate/ current than HL at the monent. The bid is currently 32p insofaras I can tell.
https://www.aquis.eu/aquis-stock-exchange/for-investors/trades?securityidaqse=VLRM