The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Gee, ASX rises to 4.2c.(2.171p) and the roi necks are taking less than 2p - how thick are TLOU holders?
3p could be challenged , setting the mark for ASX , but people prefer taking a £100 profit now rather than a £1000 profit as we get closer to production. That is what TG has been battling against for years - when is everyone going to get behind him? Worrying about dilution here is crazy. We have gone from 600m to 1bn shares through the most difficult circumstances that were beyond imagination! Pandemics, Lockdowns, Slow dewatering, Shutting down when we needed expansion, Economic chaos for personal finances, and TG has kept out heads above the water.
When I was working and earning well above the national average I was earning not a lot more than today's minimum wage. Imagine what life is like on pensions that are half the national wage now! Fortunately I do not have to find rent or mortgage repayments so I can survive by leading a frugal life. Last years MOT revealed I onlt drove 700 miles the previous year - it is probably going to be lower this year, And that is more miles than I do on the motorbike which means leaving Poppy alone at home. Football matches are about 20 miles per match round trip.
I continue to buy into this golden egg with my limited disposable income for your bargain prices. I should be thankful but I;d prefer the Pension Fund to be in profit on their 11p shares so they can justify investment into this sure thing! We'd be in production with that scenario and maybe 10 production wells. Shutdowns may not have been necessary if the project had never dropped below that 5p share price.
We need a Mcap of £100m+ and selling at less than 2p or even 3p will stop us ever getting there.
We'll stay on speaking terms then Olda.
BTW I received duplicated claim forms for my late wife's pension last week.
I emailed to ask if they got the first set of completed forms.
Today , I got another letter saying that her short payments had been paid and they are in my bank.
The good news was the shortfall was across the whole period from April 2012 to Sept 2018! I.e. 60%+ paid in the later years 2017 and 2018 for which I has bank statements, was not going to reverse the direction of the payment. Average payments are £6900 according to Martin Lewis!
The bad news was only a £1 a week allowance was missed out, so my windfall came to a whole £369, hoho.
Following on from my activity two nights ago , this demonstrates the apathy on ASX.
One trade all night and that determined the 4c closing price.
As you can see there was an offer of 4.2c on the table and I was tempted to sell 1 share and sacrifice £5 commission. If I had done it the closing price would have been 4.2c and the buyer would have lost a commision for a measly 4.2c
I am unsure whether IG would allow a 1 share trade with many more in the account.
If I only had 1 share they would have to oblige me I guess?
https://drive.google.com/file/d/1fpnSTb2tb8BNuaq0QMO_K7rD_cMe6cEy/view?usp=sharing
In February TG paid a total over half a million dollars for 18.5M shares for two family groups of which he is the figure head.
https://drive.google.com/file/d/1n9xhRDfKDv8AbnkS9AUgdx1xRIaydmWR/view?usp=sharing
ASX closing price is calculated differently to LSE.
The final trade is the be all and end all so 1000 x 8c trades which sets the sp at 8c throughout a session will be ignored and the value of trade 1001 will dictate the price whether higher or lower no matter how much.
It is sensible because it is undeniably a real price - and the sp was paid.
Compare that with LSE which has 1000 x 8p followed by a single buy or sell at a different price.
If the spread is 6p to 8p then the final trade of the day is triggered by ....
1. Sell i.e. a shareholder accepts the top of the spread price which appears to the seller as 8p + or -
Partial fills starting with the highest available price are possible depending on the volume of the trade.
The trade price is therefore the weighted average for the seller , and the face values for all the sellers.
2. Buy i.e. a shareholder accepts the lowest price that sellers require and depending upon volumes might move up the selling prices so the weighted average will be needed again. The sellers get their price at face value and the buyer sees the average.
Whatever the trade type, the effect on the LSE SPREAD will simply reflect the deletion of any prices that were totally exhausted by the trade.
The LSE closing price only considers the revised SPREAD , not the value of the trade!
The closing price is the middle of the final spread - and no trades might have been done at that price.
Both schemes have their merits but , as I have demonstrated in the past , little old me can affect the prices on ASX with one small trade at theend of the day. I got it up to 4.1c at the start of the session but the ASX closing price was reduced by the final trade of 4c which could have been 3.4c or less of course depending on the mentality of the seller. LSE is probably the fairer method but neither is perfect.
I just got a fixed price on LSE of 2.196p 22,503 shares which is less than the 25000 I'd have received @3.8c on ASX last night. But I have gained money on paper with ASX at 4c , and I have hopefully helped to consolidate LSE price rises. How much have I paid in cents? I ask myself! Comes out as 4.243c
How does that work out?
I had £500.32 to spend. One LSE £3 commission on ASX 10Aud (call it £5)
495.32/.04243 = 11673 shares before deducting a small FX charge an a few shares.
497.32/.02196=22646
I am an idiot - getting so careless in old age - I expect "no shares available" as I entered buy £497.32 !
They include commission so it should have been 500.32p so I have £3 cash in my account!
170 shares short! But 22503 versus 11673 is a happy read.
Mission accomplished a trade above 4c
https://www.marketindex.com.au/asx/tou
Smiley! Just saw the spread move from 4c to 4.1c so my £500 is likely to be there is the morning for a GBP buy.
4.1c is parity with the LSE close plus a fraction 2.115p
I hope this is legal , discussing it on here?
2.1p LSE closing price is 4.072c so I am tempted to buy on ASX @ 2.6c+ to keep the momentum going.
I have tried 12000 @ 3.8c max 1.959p with a bit of FX commission if it goes through. Otherwise I'll have £500 to buy on LSE is the price is right. If people reject 3.8c it will be a good sign I guess? 3.4c+ should be safe for a day or two?
Can sell at 3.6c 1.8p a few minutes after the 20 minutes delay and someonehas offered 139k@5.6c 2.9p
6.5p that Zeus recommended is 12.6p which might be a month too early?
Any finish above 3.4c will be the right direction for me. We need both main exchanges to keep increasing so 1p+ is notworth waiting for , and 2p+ is about to give way to 3p++
Worth perservering with and thanks for the great follow up , TB.
No pictures but my favourite video that I'll treasure forever.
https://drive.google.com/file/d/1RNXAuexSJSpTyZErGy-NNgdfVjd9XzCb/view?usp=sharing
On my dog walk my few brain cells started working again and the exchanges last night made total sense!
Clearly someone had taken notice of the Clueless link and reached for the stars!
He offered 100k shares at a limit of 8c , reduced to 6c , and subseqently withdrawn.
On ASX there is no fixed price quote on IG so it could have been me.
A few million barrels compared the the trillions of cu feet of methane is a drop in the ocean but over 6p tallies with my minimum of 5p+ as the true value, and my target of 11p fairly soon.
3.4c is looking attractive for a midnight feast on ASX tonight.
DWP wrote to me again , and the asterisks have sent me the same forms as last time and another stamp addressed envelope to claim underpaid pension from my 65th birthday until my missus death in 2018.
So I still do not know how much they owe me! And a phone call never gave me an appropriate target.
So annoying,
The elements are conspiring against me - that link has not produced this display that was still on my screen.
This is what I expected you to see...
https://drive.google.com/file/d/1r2PewVVwPU0z2ojjGq9jNGgt_HCoTxLT/view?usp=sharing
5.4c is showing up on this site and the performance looks much better than IG seems to report on their convoluted new platform that resulted in me selling instead of buying.
https://www.marketindex.com.au/asx/tou
Clueless, surely you know there is a civil war in Botswana and BOTS as Donkey predicted that for years?
Trouble is his prediction was using civil in the wrong sense of the word - the people that matter have remained very civil unlike the warmonger currently knows as BOTS.
I am disappointed that the Aussies have not pushed their price up - but the poor placing last month is fresher in their minds than it was for us Brits who could not participate.
I am trying to get my head around last night. What was that 8c and 6c price? 100k @ 8c was showing on IG so it suggests nobody on ASX was interested in selling 100k shares @ 8c ?????
And on LSE earlier in the month why was my buy at a limit of 1.71p declined when trades @1.68p were going through whilst it was active?
And why were there no fixed price quotes on IG until we saw the LSE price rises? That is more logical the price offered was enough to sway holders into selling - but where were the Aussie equivalent holders at 8c and 6c?
Why isn't MM back here yet? He had L2 and could explain such things.
Guys - just climbed into bed at a quarter past midnight and the ASX spread is unbelievable!
3.4c to 8c in English that is 1.741p to 4.095p ....... my 5p on LSE is looking more like sooner than later.
At Midnight 30 minutes this was it.
https://drive.google.com/file/d/1bVemfL_DCzFEqmHaTVK5LUHoAWGXQL-I/view?usp=sharing