Member Info for canillasboy

Currently looks like we are in the next "higher low" territory, so yes pattern likely to repeat. Hampered a little atm by large seller continuing to offload in tranches of 250k mostly atm, similar to yesterday and other previous days. The seller is slowly driving the price down as MM's try to keep the sp orderly. Still the sellers shares are being mopped up by others too so just need patience.

Above all else the project details as we know them are unchanged, good grades of all metals, good management team, high end price for main product tungsten, likelihood of funding assistance it just goes on. So no need to lose heart nothing has changed except a large shareholder is offloading atm.

There was a trend. Possibly some sells might have been buys and some I thought buys might be sells, but a definite seller in the market today. Yes I noticed the 1.8m buy etc .As I said the sell shares are being mopped up . Think it is just the continuous feed of large chunk sells that is driving the sentiment to the negative atm.

Sales started c10am and continued until just after 4.30pm.

Think I counted 5 250k tranches. As I said there has been persistent sale in the tranches mentioned for the best part of the day.

As implied earlier today there seems to be a steady sell off by somebody. Today, as far as I can see, there has been a seller(s) where shares in tranches of 250k, 300k, 500k and 1m collectively sold c16.25m shares for c£960k. This ,potentially, represents almost a third of the volume today, so a noticeable chunk. Obviously the shares have been or are being purchased by others but this may be affecting the direction of traffic atm. Sp is likely to drift around 6p for a while if this persists unless there is others news/info to affect traffic flow in either direction. It is what it is and is not, in itself unusual, and will not affect the overall direction of travel as the project develops further but may be having some effect at present.

Not for sure but get the impression that someone is still unloading several million every day lately and gives e down draft to sp. Mostly in the mornings . Wonder if MM's have a large sell order to try and complete at c6p. We often see a revival in the afternoons. We will see but seems to be staying around 6p for now,over the day, so there is still good buying strength at just sub 6p.

Well we are not yet at funding stage directly. Once we have PFS we have more definite costing of capex and we may by then already have agreed the funding whether by UK Gov or them acting as guarantor or similar. So end of the end most likely.

UK Gov has already been involved in funding, so think it is on their list somewhere. Waiting for next stages perhaps?

Because there is the possibility of raising the capex funding without the need for further shareholder dilution. Financing to production, in a cleaner, tidier, safer and faster too quite likely.

Having looked further at this, whilst TUN issued an RNS that outlines the proposal from the US there does not seem to be any reference that the offer was taken further ,as yet, but rather that other avenues were explored to raise the finance to fund the opening of the mine and that, at present , they have sufficient funds to commence production in Q4 26.

Maybe the UK Gov did intervene in some way behind the scenes???

Good find BP.

Interesting that TUN West took some of the finance without UK Gov interfering directly. As the deal is "non binding" think US are hoping for off take or similar and UK Gov might be having some pressure exerted on them to take part with some similar funding. Still waiting for some further developments from UK Gov but TUN seems a bit disgruntled the UK Gov have not been a bit more proactive.

Does give encouraging possibilities that Redmoor project may not require shareholder funding to finance capex and that speed of development may be swift. Be interesting to see if something pans out.

Might be an exciting development that would send sp soaring again if something like it came to fruition. Seems less likely that finance will be an issue for capex if this is going on.

Example: on LSE 2 there is a trade at 15.30.31 for 321,229 at a price of 6.2250. Same trade not showing on this site currently.

It is worth noting that the trades listed here on LSE do not reflect those listed on London Stock Exchange( LSE 2) in real time. LSE may catch up listing " late trades" to get the book straight but they are not always actually late according to LSE 2.

Sorry "with just over an hour to the close". Where I am at present is an hour ahead of UK

Trading volume has, up until now anyway, reduced significantly on yesterday.

Yesterday c53m today c26m with less than an hour until close.

Might be the trend for coming days unless some other news/event changes things.

Agreed.

As I said in my previous post

"So we are in a period of slow news info and sp will languish where it is for a while unless other news comes along to affect that."

With no further news since April 1st the momentum generated by the outstanding MRE and the Economic Sensitivity Analysis in March has now dissipated somewhat. The sp has fallen back as traders have taken their profit and some longer holders, it seems, have lost patience and/or have taken some profit and likely moved it elsewhere.

The very spirited and promising announcements from Zeus have just confirmed what most lth's and others have already realised and most appear to be holding firm, digesting the further confirmation of the promise of this project. There is no exodus nor is there any massive inflow from institutional investors, or many new private ones, that is visible anyway.

Institutions are often wary of AIM stocks whilst they remain in a state of uncertainty of 50% or less in their eyes. They prefer the reassurance of certainty and they have many other shares in that category to play with for the next 6 months or so. Am sure some of them will keep SML on their radar over the coming months and return, when things firm up.

So for now the sp is going to do what it is doing now and meander around at its current price ,seemingly on less and less volume ,so it is likely that the sp swing will reduce with that.

Next news is likely the Cobre results, though unlikely to change the trajectory of the sp, just reaffirm long term income stream, Leigh Creek info unlikely until end of May at best and may not make big impact, depends how it pans out, and infill drilling results unlikely for a month or two either. So nothing too exciting is expected over the next month or so.

So we are in a period of slow news info and sp will languish where it is for a while unless other news comes along to affect that.

I had hoped that Institutional Investors would have been more evident after MRE but we will have to wait a while longer for them I think.

So for lth's it is just a time to sit tight again until the next chapter is unveiled, for others they must do what they think suits them.

Roy, the sp does not function directly from the number of buys and sells. The transactions are generally controlled by computer algorithms and reflect the volatility and sentiment for any given share at that moment in time. The MM's are there to try and keep a degree of control and calm in that share and keep the market trading orderly.

What happens during any given day is there may be periods where sellers are outstripping buyers and then vice versa . In such periods the sp will decrease or increase to reflect these pressures. At times the MM's will take on stock of shares from sellers if they have buyer orders to fill that outstrip the current supply until they can fill the order. Conversely when there are large sell orders they may do the same until they find sufficient buyers for the shares. Generally the buying and selling are being continually matched by computers and the sp is driven up and down by the volatility of those buys and sells and the MM's hold no or little stock. For most of the time the buys and sells negate each other and it is the bid and ask that move in one direction or another to reflect the market sentiment moving the shown sp up or down. So the actual number of buys and sells will reflect sentiment and drive the direction of travel at any given moment which then drives the sp up and down. There will always be factors that will affect a shares market sentiment, e.g. good and bad news, results good and bad, t/o whispers etc and these are reflected in the bid and ask as buyers and sellers demand their buys and sells.

Thanks cbeadle for info. Try and choose a nice sunglasses day in a few weeks if it’s convenient for you. Be good to know.

From memory think they wanted to drill less m in depth etc but probably want to cover decent area to prove vein system further afield.