Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Neptunes; Indeed i do, the question at the FSC was along the lines of 'was the location moved at the last minute'. I never intimated it was last minute nor had it been mentioned it to me that it was indeed last minute. The comment was made during the meal in Morocco, when I asked who do we blame if its a duster, they said it was a collective decision, after appraising a number of locations ,including a wadi which looked good but potential ground water issues, they selected the location which was drilled.
Not at all, BBs are all about people with various opinions , positive and negative, I have my own view on Sound and others will have a contrary one. My posting has absolutely nothing to do with the dismal share price, its offered as a bit of advice as its seems that this website has started to remove posts and probably posters, it might have been at the request of SOU or it might not.
But the website has T & Cs and if someone wants to post libellous or defamatory remarks than there is a mechanism to deal with it.
Comments and remarks can be made with great affect without getting personal.
I am not trying to spoil anyone’s fun but some sobering reality.
Just be a bit careful when you slander or make defamatory comments about companies, their directors and other posters.
Why?
You are not as anonymous as you may think.
If you look at Bulletin Board website T & Cs you will see they collect various bits of data about you. Looking at LSE.co.uk :
1. Chatrooms – “The IP address of all posts is recorded to aid in enforcing these conditions”
2. Cookies – “Cookies enable us to identify and distinguish you between page loads, as well as to remember that you have logged in. We use cookies that are strictly necessary to enable you to move around the site or to provide certain basic features. Without cookies you cannot login to the website. We use cookies to enhance the functionality of the website by storing your preferences/settings, as well as using cookies to help us to improve the performance of our website, to provide you with a better user experience”.
3. Analytics – “This website uses Google Analytics, a web analytics service provided by Google, Inc. (Google). Google Analytics uses cookies, which are texted files placed on your computer, to help the website analyse how users use the site. The information generated by the cookie about your use of the website (including your IP address) will be transmitted to and stored by Google.”
4. When we share it – “We will disclose your information to enforcement authorities if asked to do so, or to a third party in the context of actual or threatened legal proceedings or if otherwise required to do so by law.”
5. The information we collect – “We collect information from when you use our site in the form of traffic data. We may collect information about your computer, including where available your IP address, operating system and browser type, for system administration and aggregate information”.
In my time running ADVFN and MoneyAM I received a lot of requests to disclose this info from lawyers, the FCA and police, when I say a lot I mean 100’s.
Once your IP address (there are conditions which need to be fulfilled to enable that to happen) and other info is given to the requesting party they will then request from the IP address owners (broadband providers) the personal details of the users assigned that IP address at time specified.
I have seen some of these cases go to court, and some settled before they do. The result has not been nice to see, 4 individuals made bankrupt, 2 lost their jobs as they were posting using a company computer/ IP address, and 3 are currently on bail have threatened a CEO who now needs a body guard. I never found out what happened all the other cases.
There are a lot of ALGO trades but not all are, but yes majority are marked as being through a system. If you look at level 2 you will see a lot of the orders being placed by the market makers systems. As a MM moves his public price in the order book, which are automated systems, you will see anonymous orders in the book at a higher level move at the same nano second. This doesn’t mean they are taking a particular position, just them trying get some volume through by matching or making the yellow strip. Trouble is with such a liquid stock that pricing changes very fast,
Sharebel. Thats not quite correct, an AT is simply a trade filled directly within the order book, any individual can manually put trades into the order book using a Direct Market Access (DMA) system. These are now widely available such as IG, Saxo, TD/II, idealing, interactive brokers and now CMC.
I place most of my buy and sells through DMA and these are not Algos.
Which platform are you using which is marking them as ALGO orders?
Sounding off. I have not seen any algorithm markers but have seen a number of Icebergs. The AT trades are still marked the same way by lse.co.uk and are not marked to market.
I have seen a lot of small orders trying to move the closing price in Auction, not unusual and in most cases it has resulted in a slightly higher closing UT trade than previous trade and previous AT trades. This is generally an annoying chartist trying to fix closing price for moving average averages etc
Don’t get too hung up on buys vs sells. They are wholly inaccurate. They are not calculated or sourced from the London Stock Exchange, they are formulated by the website you use, ie lse.co.uk . They use the trade price given, if that is higher than the mid price then they guess its a buy and if it’s lower than the mid price they guess it’s a sell.
On order book trades AT or UT, then even more questions around trades. On the order book there has to be a buy and sell order filled at the same time. So I might advertise to buy a quantity of stock and wait till somone sells it to me and vice versa. So is that a buy or sell or a neutral trade?
On the question of insider trading I just haven’t seen the pattern. We are in a bearish market thanks to Trade wars and Brexit, a lot of individuals and smaller funds have been cashing in. On SOU with the decline in share price people have been derisking, my self included. My average buy price was 31p, lowest, 7 p. I chopped out 60% at 27p. The reason was two fold, drilling unknown and market decline.
I went to Morocvo this time to fact find. I came away excited about TE11, TE10 and less so about TE9. The reason for TE9 being less exciting was that this was not their original first choice, it was in wadi not far away but I understood there might be ground water issues.
Testpack. I had the benefit of going to Morocco and speaking to a lot of staff from Sound. Interesting you say there has been no interest, thats very very different from whats I heard and saw. Clearly it's in the company's interest to have even more interest, a competitive process, i.e. a number of potential suitors, makes things it easier to decide who and at what price.
Has been really good being out here in Morocco, back in Fez awaiting flight back to Uk. Great to meet so many old and new faces. Particularly useful to visit the drill site and talk to Kelly.
I have come away a lot wiser on future events.
On the LE, Sound are/will only negotiate their own holding , not other parties. If Sound agree a deal they will then go to Heads of Agreement, once that is signed they will at that point tell their partners and us shareholders.
Mike