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Agree, over reaction, nearly 50% drop is way too much...30%, fair enuf... but 50% is ridiculous!
Link if anyones interested:
https://www.lsegissuerservices.com/spark/ScancellHoldings/events/ab1023d6-85fa-4125-be9f-527b5166fd7d
Coco, why would anyone expecting a raise, hold?? That'd be complete stupidity and a completely pointless investment strategy lol.
For clarity I don't hold, BUT was looking to take a position in the 8's, but the chart didn't support upside, and tbh still doesn't. I also thought the presentation was evasive and not sure why they would be. I agree with Wyn's forecast. I also don't believe there's a raise coming as yet, that would be a pathetic move from BoD as I still believe placees are selling into above 5p raise from last year.
Lack of BoD skin in the game is also a large factor for me... If they don't have the confidence in their own company, don't see why I should.
I don't see why they would raise before results of drill, that would be madness imo and people would lose complete confidence in the company. I'm still in the belief the placees are selling whilst sp is above 5p, there's a lot to clear atm. Buying may be relentless, but you're buying into large block sells which will show up later.
May I ask why people don't think it's just placees that are selling into the recent rise, as a lot of shares were created for the placing. I also wasn't happy with directors not having much if any skin in the game... for me that's a big issue as none took part in the placing unless someone will correct me.
I did watch the presentation and I also didn't like the answer when asked about the rig cost, they seem to dodge the question.. and why directors hadn't picked up more shares during lows/placing.
Problem is there is no way of knowing when Schroeders have reached their limit or how many they're going to sell.. RNS is just a notification of threshold crossed... and that's all. Material change in SP direction would indicate they've sold what they wanted to sell...else it's going to slide lower or hover here selling into buys.