Member Info for Boyobach

Are you saying that the 8.01 200p (£50k) trade this morning was not them?
It strikes me that they aim to set an early benchmark for the day and support the price if it falls back below a certain limit, with the option of moving it upward if the day progresses favourably. I assume the trade sizes are then reactive - driven by what sellers come forward within the day's target range.

A sharp increase in the number of shares acquired yesterday cf Friday and the daily average so far. I guess you guys are also tracking the budget spent, which I make to be less than 20% up to yesterday's close ? Does this match your estimates? If the buyback ramps up at that rate from here, taking the sp towards 210 , then I think that the remaining budget may well be used over the remainder of the week. Another strong move this morning, especially against a weaker OP.

Looks like the objective today was to accumulate up to about 198 and hoover up as many sellers as possible at around this level - nominally the 197 resistance, although such levels are invariably +/- a couple of p as the price either gets knocked back below it or perches upon it for a while before continuing.
Bear in mind that those who would have sold at this level but choose to hold out for more might simply join a bigger queue at the next level shift (if there is one) and subsequent fall-back.
The week so far v Brent (15’ ticks): https://invst.ly/b5c74

There’s a strong pattern of ‘step-up’ followed by one or two days of fall-back or consolidation (1 hour ticks): https://invst.ly/b5c7u

The rest of the field since October Peak OP: https://invst.ly/b5c89

G certainly not looking quite so cheap now by comparison with the others. At this rate 204 looks like a possible destination - and a few FC contenders tightly packed around that number, with JL in pole position.

I think the buyback is progressing just fine, Bunks - I do hope & expect to see 200+ by the end of the week - by Wednesday maybe? OP obviously picked up sharply after my first post, As I'm currently rather overweight on G, I do anticipate offloading a few this week if the price reaches my target on the average sp of two recent tranches of trading shares. But I probably won't be alone. Yes - there may be a propensity to fall back next week but most of the 'decided' 180-200 sellers should have been removed, leaving a less spongy base level.
ATB.

Oddly enough, I tend to think the drop back in OP since Friday might assist the buyback process (though maybe not my FC chances!) by drawing more sellers forward at lower G prices. It will be interesting to see how next week proceeds. I hope to see a firm rather than high sp base established - bearing in mind the modest buyback budget in comparison to the presumed recent sell-off .

Have others here been having fun with PFC recently? That's been a nice little earner for me but you can't leave the screen for too long. Crazy volatility over the last week.

Boyobach 207
Hawkey 235
Prime 225

You can'r run old software or media on new hardware (an old smart-phone or whatever won't run recent apps, work on 5G etc) and, when they need to replace the hardware, companies look to update and make 'efficiencies' to pay for it - it's always been the case.
plus ça change .....

I hope you are all enjoying this fine game of poker.
Well done Stockbuster btw.
As an LT holder who trades on the side I have two separate targets in mind for next week - neither of which will be my next FC entry. But enough of me - the chart shows some existing trends and hints at some valid direction changes. Is 197 the final destination or will we see G safely back on the 200+ shelf? 205 is starting to look like a bit of a stretch but there’s plenty of ammunition left isn’t there (if they choose to use it)? Ha! Friday Club is going to be like a fairground ‘duck shooting’ fest.

The week v Brent (15’ ticks): https://invst.ly/b4q7-

The current buyback scene, with back-story from April (1 hour ticks): https://invst.ly/b4qda

The rest of the field since April $75 OP: https://invst.ly/b4q72

From what I've seen better than the ii clusterfck JL.
Just mention the things that don't work for you and folks here might be able to help.
Using the 'reply' button when responding to a given topic rather than posting a new message and re-typing the subject helps.
Also, if you are in 'thread view', to read a thread from the last message rather than from the first use the 'go to thread' rot the title link.
Hope that helps for starters.

H: At one time yesterday it looks like they bought 3 shares.......................

You may always buy round numbers of shares and some buy in cash amounts resulting in 'untidy' numbers of shares being transacted. Also one buy will rarely exactly match a coincident sell - so the trades can be split up with odd shares hanging about waiting for a home.

DHC

Current hourly, no comment from me necessary:
https://invst.ly/b4knf

Hi Hydrogen: Time for some emotional Logic....
I wouldn't be invested in G if I thought the buyback process was in any way influenced by director's personal interests. I don't believe it's the case and I'm sure every regulatory rule is being scrupulously followed. Canaccord have been given a brief and hopefully they'll deliver on it.
As far as the process is concerned it seems to be progressing well. The cash required will ramp up as the sp goes higher - not just because each 1000 shares costs more but because more sellers will come out of the woodwork (possibly including me - as I have some trading tranches to dispose of at some suitable point). GLA!

Today’s 15’ chart v Brent from last Friday’s close includes GKP and DNO so that we can get a better feel for the G-specific effect of the buy-back process. A good measured pace I’d say, building and consolidating each step without spraying cash at the market.
https://invst.ly/b4diw

A third of the way into the process and neatly perched on the broken trendline in this long-term chart - with any luck heading for the next: https://invst.ly/b4dr1
Should be a solid platform upon which to add some good news in August.

The rest of the field since April $75 OP: https://invst.ly/b4dmx

I think your answer is in the RNS, Tartine, and they want to achieve both:

'Genel believes that the current share price does not accurately reflect the value of the Company's assets, and that utilising its balance sheet to repurchase shares represents a value accretive use of its cash resources.'

This does mean, of course, that they don't intend to pay over the odds. Folks who expect fireworks in terms of sp are likely to be disappointed - a stable 30p lift from the recent lows of 167p wouldn't be a bad result would it? That's nearly 20%.

The object isn't to spend the money - $10m is a budget not a target. They'll try to deliver the required minimum shift in sp - (maybe just +20p from 177) and stay well within budget. They may then use any remaining time and cash to consolidate or slowly inch the price up further. From today's price there are obviously sellers who can still be teased out around 192, once they've been exhausted the next group can be tackled.

They’ve achieved a lot so far with just 200k of shares haven’t they Hawkey?
The idea of this buyback is to steadily bring the floor up, not blow a hole in the roof. It would be total folly for Canaccord to wade in and spend the $10m rapidly or even give the impression that they intend to use most of it - that would just spike the price and prevent them from selectively targeting sellers that might otherwise keep the price below the floor they have been tasked with establishing and which they might already be well on the way to achieving.

It’s a delicate task - tempting sellers out even though they’ve got expectations of steadily higher prices. So, there’s no guarantee of higher prices tomorrow - Canaccord have only to stop buying and the sp will drift back down allowing the more ‘vulnerable’ shares to be parted from their holders at prices near the floor. Repeating the process should gradually flush out all the ‘weaker’ sellers and the floor will tend to lift. it’s a game of chicken too - potential sellers don’t know at what point Canaccord will stop buying completely and they’ll consequently get squeezed as the deadline approaches.

Correction: The ratio of Gsp (p) to Brent ($) was 192/66.5 = 2.9 at today’s close. Virtually unchanged from yesterday

Here’s the 15 minute Brent v Genel since last Friday’s close, G is up 8.7% - about a third of which was achieved today - whilst OP is up about 2% over the period - most of which was today
https://invst.ly/b400u
The ratio of Gsp (p) to Brent ($) was 192/65 = 2.9 at today’s close. Virtually unchanged from yesterday

Here’s G and the others since the OP Peak near $75 in April: https://invst.ly/b406l

I guess the buyback process might be rather like fishing - not that I’ve ever tried my hand at that - catching as many as possible with the minimum of bait.
It seems reasonable to suppose that the price curve will flatten out as the buyback proceeds, with each increment teasing out progressively more sellers and consequently absorbing more cash. - In this rather artificial period perhaps getting G securely onto the 197 level would be an early objective, with 203 and subsequent resistance levels targeted if they can be consolidated within the time and cash constraints. Shifting G from sub 170 to a solid base around 200p with OP at $65 would correct a lot of the damage done since 1st May:
https://invst.ly/b40j-
Here’s the recent pattern on a 15’ view: https://invst.ly/b40ur