Member Info for canillasboy

We should be encouraged by the fact that after the initial depression of sp on big sells the buyers have won the second half of the day and pulled sp back to 5p. 56m traded so far today so may finish c60m for the day, been busy.

Tungsten, maybe our ex directors, who had c 80m shares each are selling in order to set up another AIM cash cow for themselves. 80m@5p +£4m????

Volume 40m in 3.5 hours so motoring a bit compared to recent days. Good to see the sellers shares being hoovered up so well as we head back into 5p territory. May well be the last time anyone gets to buy at sub 5p.

Let's hope May ends up more like March for a good bunch of positive news. Today's news was a little disappointing and I almost wonder why they bothered as it was not really mindful info, could have been tacked onto another RNS that was more positive.

Still patience will win in the end.

Well glad that Baron agrees with what I have been saying for few weeks that there is a seller(s) in the market and when there is low volume they drive the sp, unfortunately downwards.

For me makes no difference once we get more positive news the sp will move back up into new higher territory I expect, might just take a little while. In the meantime just being patient.

BG, the figures for March and April are averaged to arrive at the conclusion. Where there are spikes these happen in both directions up and down. When there is lower volume trading and the sp moves up or down it is more likely to have been driven by larger buys or sells and the MM's, in order to maintain liquidity, will raise or lower the sp in order suppress either buying or selling at too fast a rate or at all to again maintain the market liquidity of the share price. As evidenced today with relatively low volume the sp has been adjusted down by MM's due to some large sells that were affecting the liquidity so the sp has been dropped several times to try and reduce further selling. So yes consolidation is taking place but also the sp is being driven down by a few large sells with low volume. Yes it is just normal market practice. Yes the sp will undoubtedly reverse direction once meaningful news can drive it that way.

As for who might be selling, as there has been consistent sells over recent weeks in the same tranches of 250k,500k and 1m several times each day and repeated over further days which has led to a daily gentle reduction in sp as the MM's have accommodated it, hence my use of the word offloading, as it unlikely several sellers all sold in the same tranches day after day but rather a small number. Anyway we will never know who and it is immaterial but only that it has taken place in a measured way, in my opinion.

When there is a change in directorships etc there can be a requirement to sell the company shares in order to offset any conflict of interest or to stop the past directors adversely affecting board advice to shareholders, in any given vote ,or to affect any given vote. However, there does not seem to be any evidence in RNS's or the Articles of Association that support that idea atm.

Here's hoping for a Thursday RNS tomorrow that is meaningful and can point the sp back in the right direction.

In March and April SML has moved into the top tier on AIM with ADTV of £2.39mpd for March and £3.06mpd for April. Nice to see if we hold this level now as it shows really strong liquidity. Must bear in mind March was super good info month, good amount of shares traded and sp increasing quite rapidly. April was a short trading month but still traded good volume on a consolidating sp, so even better in some ways. See if it continues.

BG, the volume traded for March was 1.17B (£52.6M) and April 846M (£49.1M) so not much difference really. March and April represented the highest two months in value ( as sp at its highest) and 2nd & 4th by volume in the last 12 months.

So although it feels that the trading is not strong in SML terms it's almost the strongest its ever been.

Just really observing that thru a lot of April there were persistent large trades as detailed and the MM's sentiment was to lower the sp in order to keep the market liquidity, hence the price fell from 7p to 5,5p. Agree there is easily the possibility of others selling too but there was a degree of consistency almost every day, which implies someone was offloading in quantity and they were likely contenders.

Well there has been a fairly continuous flow of tranches of 250k,500, & 1m for several weeks. There can't be many people who have that kind of holding that takes that long to work through. Encouragingly though they are being bought up too, but think it has had an effect on sentiment which has been negative for sp whilst the euphoria of March has dissipated.

Not sure MM’s would handle that kind of quantity when normal market was only average 25m sells per day. So to keep orderly market and liquidity has to be slow and steady , maybe 5-10 m per day.

Afraid it can Swerve. If it is the old directors they have several hundred million to off load. Think Mm’s can only handle so many million a day otherwise whole thing would go haywire and they would not get best price either. So at rate of say 5-10 m per day it could take a while Tbh they have been offloading for several weeks now so maybe end is in sight but not holding my breath yet !

Trading volume remains almost non existent, c17m yesterday even slower out of the blocks today so far. So it will need some good news to get the motor running again. Still tomorrow is Thursday, popular RNS news day so see if anything emerges. Not expecting anything earth shattering atm but am happy to be surprised.

Well there will be nowhere near enough for the project capex on offer but the fact UK Gov might be prepared to put actual funding into the project together with NWF & UKEF may be enough to attract enough private finance without further shareholder dilution. Hopeful.

Atm think if there continues to be no news of any note, and not really expecting too much that will affect sp very much, not much will change. The volume of trades today so far is a little higher but recently volume has been fairly low so as fast as some sell others buy so no real sense of direction just continue to consolidate in he 5-6p zone.

Any potential bidders will know that any proposal will probably have to get by the UK Gov too in order to succeed . Bidders will have to have the UK Gov onside to have the best chance of a successful bid. Not saying won't happen just that a straightforward out in the open bid will not necessarily be an easy option.

Daltry, I would describe that as fatcats using every bit of inside info and influence they have, to line their own pockets ahead of everyone else. As long as they are ok who cares about everyone else????

Not for a minute suggesting this is exactly how Redmoor may pan out just an overview of this type of mining.

A reminder of what the Redmoor Project has so far and what else may be possible from CRL Website:

https://www.cornwallresources.com/redmoor-project

Also worth getting to know for those like me who don't know very well, this is some of the basic ways to mine using long hole stopes:

https://www.flyability.com/blog/stope-mining

https://www.youtube.com/watch?v=M9A_Gybcf3U

https://www.youtube.com/watch?v=BdU6-DvnpVU

Whilst there is/are big sellers the MM's will absorb only so much to provide liquidity, beyond that there has to be willing buyers. The fact that the sp is not really falling indicates the MM's are finding sufficient willing buyers at these prices.

It is unrealistic to expect sp to be moving anywhere after a month without good project news. Also have to expect these periods of quiet, the project takes time and BoD cannot be dishing out news every few days. Trading volume has slowed a lot, 19m yesterday, c7m so far today, couple that with a big seller in the market, think we are doing well to maintain current sp in th 5-6p range as the sellers shares keep getting mopped up, might even be a slow accumulator buying them up slowly. So we must just wait for the next decent meaningful project news before sp moves up significantly or some other unexpected news.