Member Info for bluegrass

Which one?

I wasn't saying that they held no shares. I assume the amount they hold depends on the liquidity of the market.

To be honest I never really understand people saying that 'there were more sells than buys' or 'more buys than sells', surely in normal circumstances the two will roughly be in balance. Market Makers can not sell shares they do not have and in normal circumstances would not accumulate huge quantities of shares and become proxy share holders. I thought the rise or fall in share value was more simply down to the balance of buying and selling pressure. So the SP fell yesterday because there was more selling pressure through the day and then recovered slightly later on due to an increase in buying. The drop in share price yesterday would indicate that there was more selling pressure regardless of whether transactions were indicated as buys or sells. The transactions are only indicated as such due to the mid point and will be inaccurate. We all have had buys indicated as sells and sells indicated as buys. Also the larger transactions are more likely to have been negotiated.

There were some big late reported sells though. Really hate that its like we are being toyed with.

Thought he said a few months, but hope you are right.

Yes fair enough, but the funding is the million dollar question. Just worried what will happen to the share price over the next 2 months whilst this is left hanging. Appreciate that he did not have all the answers and conference call was not correct place to give them anyway. The one piece of news he did provide was to confirm the time scale that there won't be any funding news for a couple of months. That is what I am worried/ disappointed about.

No new news, suppose that would be in an RNS anyway. Structure same as before with debt equity split. Further work required on equity element. Hope to sort out over next few months. A bit too vague for my liking although he didn't come across as overly worried. I am worried about what will happen to share price in mean time

Spent a long time explaining things we pretty much knew and also explaining rational behind what has happened. But very vague about the million dollar question - " How are we going to complete the funding package?". Generalised answers - a lot of support from existing shareholders, good support in UK but not Asia or US - but then saying that there are discussions going on and hope to sort in next few months. Just wander what share price will be then!

The problem is the SP seams to be in freefall and I can't see it stopping now until we get some news. So sooner rather than later hopefully. I expect a lot of people who are too heavy in this share are now hedging their bets and selling a few.

This is what annoyed me about the like of icebergs statements last week. It was all nonsense, as I suspected, about some German buyer. Not a word since. Maybe he was trying to get the price as high as possible so he could sell his holding for the highest possible price.

KDNC really are a complete red herring to this. They have no money to speak of in the bank and would find it considerably harder to raise funds than BCN.

Thanks for the link.

Big plus point for BCN. We have supply offtake agreement so the paragraph near the end "Supply deals and investments with end customers mean lithium projects are being financed differently from traditional commodities, according to Westpac Institutional Bank, a unit of Australia’s second-biggest lender." Also we already have investment from an end user. In theory this should derisk the project considerably.

I think there were mistakes in how the company went about the placing which led to the price being marched down. Hopefully lessons have been learnt.

Sound good if true but very low volume, only 0.1% of the companies shares were traded today that includes both buys and sells. So there is no significant movement pushing the share price up.

At what price do you think the company will now be looking to raise the equity at? Will it be worth dropping their expectations on price to get things moving or do you think they will hold out for a better price? I am worried if this drags out the share price will slip down.

I have to say that I was pleasantly surprised by the resilience of the share price to yesterdays news. However I am certainly not convinced we are out of the woods yet as highlighted by the FT article and the open ended comment by Mr Secker that we will work with the existing shareholder base, which sounds a bit vague and unplanned.

I am genuinely worried at the moment and find what appears to be groundless ramping irritating, i.e. 'Germans to the rescue', ' a huge short is being closed' and that we are going to be bought out, all offered without any evidence. This was topped off this morning by a statement '70p is a gift horse, in a few minutes it will be gone' which is just baseless nonsense and trying to lure in some mug. I really hate that kind of stuff. The mug won't be me though because I 'me already in more than I 'me happy with at this moment in time.

I don't want to be overly critical and would love to be proved wrong. So if any of the ramps can back up I would really like to hear the answer.

Yup its us the PI's, but it's not me this time. PI's are a bloody menace, chancers hoping to make a quick buck. Most of us would have flipped if we had been guaranteed 20%. The trouble is it makes the hole process more like gambling and you have to get your timing spot on. I've lost and gained on it before. On the down side it may cause real collateral damage to the company

Another point it would seem in a ii's self interest to buy in at a reasonable price. If they bought new shares at say 80p that would immediately give a confidence boost to the market and the share price would quickly be above the £1 mark making them an immediate profit. On the other hand if the buy price was 60p that would send a poor signal to the market and the share price would probably be brought down to that level and become sluggish in the short term. Ironically if one was taking a short term view they would be better off buying at a high price. The actual price will probably be somewhere inbetween. We will have to wait and see.

That said if the placing price is higher than the current SP then the price will immediately jump on the news and anyone that has sold will have to pay more to rebuy. I think anyone selling now is playing a dangerous game for probably little gain.

The problem with your theory is that they don't necessarily get to buy he placed shares for what ever the price has been knocked down to in the last few days. The key point with the placing is how popular it is and how enthusiastic those invited to bid are. If it is popular and competitive the price will be high. If there is less enthusiasm then the price will be lower. I think the current dip in the SP is irrelevant to this situation and am therefore sceptical whether a committed long term investor would play these games when the long term prize is much higher. Also it seems that the placing is being offered to those that already have some long term commitment and believe in the story. We will find out soon enough.

I get what Stranger is saying but not sure it makes sense because a ii would not necessarily get to buy a large amount of share to what the SP is getting knocked down to. Is this not competitive for the ii's as well and they have to bid to be part of the funding ? Unless they are acting together, to get a better deal, which I assume would be highly illegal. Presumably they are already convinced about BCN and will want to bid. The problem is small PI like us may assume (wrongly?) that large institutions have a small PI mentality.

I find it baffling that EMH has risen nearly 7% today on not much more than sentiment and is still relatively high risk. On the other hand BCN whose future is now becoming secured has dropped in price.

I think those selling now with possibly the thought of buying back in at a lower price are taking a big risk. You could maybe make a few pence on the share price, but once it has found a level it will bounce very quickly. The future of this company seems pretty well secured and it very undervalued against it piers which are at similar stages of development. This company is increasingly becoming a low risk investment.