Member Info for Castaway

The shares were sold on the market hence the drop from £13 to £7 over the period they were sold

adzy - you short at the drop of a hat but only go long when the company is proved to be ok? - surely it's balanced? are you ever long in a stock?

I concur always

Funny how you didn't wait for any clarity on shorting NMC adzy?

adzy - like the gamblers gave up at £40 ;-) they are back in at £8

I agree with you Tina - but you cannot say Khalid is unbiased - he was just backing up his view of the Gulf and the article he wrote in December.
I am under no illusion about NMC, it was clearly overpriced at £40 by the "always correct market" and now it is probably undervalued at £8 by the "always correct market" - market is clearly wrong on many occasions.

Shares do not get suspended easily adzy - LSE likes to keep shs trading to give investors the opportunity to buy and sell.
LSE will not "wash their hands of this" - it is a regulated market - NMC had to present a case to get listed and it will have been robust - let's see - plenty of upside here and not much downside as you found out today!

deos - let's see - auditors have done work on NMC to get the listing and maintain it, there has been scrutiny - if it is a scam we will find out, but really nothing has been exposed yet and the s/p has been smashed.

Tina - there are clearly problems with NMC - but it has come off from £26 two months ago.
The Khalid article IMO is mainly about the scams in the Gulf, there is no actual evidence of malpractice yet.
Let's see what unfolds, but at the current s/p NMC is a buy for me.

always can I go for BOD in your table

I thought you were now long adzy?

adzy I am on here for your comedic value :-)

Shetty resigned because he had not informed the BOD or the market about the transactions he had carried out with his shs - the other directors were nominated to the BOD on behalf of Shetty and the other major shareholders as stated in the RNS's :under the terms of the Relationship Agreement between the Company and Dr. B.R. Shetty, H.E. Mr Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi and Mr Khaleefa Butti Omair Yousif Ahmed Al Muhairi ("the Principal Shareholders"), which permitted the Principal Shareholders to appoint a number of their nominees to the Board.

This is to do with shareholding shenanigans of Shetty et al and not operational - it is not surprising given the previous RNS re. Shetty

The thing is with big (ish) companies in the position of NMC all the hedge funds and II's will be bailing, they don't care about the effect of their actions if they decide to sell it will happen and the s/p crashes taking out PI's stop losses on the way.
The II's have investing rules for their funds and you can bet NMC have broken many recently.
At some point (unless there is as yet unproven fraud) the s/p will bounce back very strongly.

Totally agree alwayswrong - that's why you can make money on trading shs, the market is often wrong!

British bulls a are **** ;-)

adzy it went from £18 to £30 last September ;-) - could do £12 next week easy - be realistic!

Well adzy you may be trading the drops, whilst I have been trading the rallies, but the thing is if it does get good news it will go up way more than it can drop as it is down around 75% of the s/p in mid December.
OK if some really bad things come out it can drop further, but logic would infer the chances are, it will rise based on the massive fall over the last 2 months.

NMC has dropped from £26 to £7 in 2 months - it was probably overpriced at 26 notes the market often gets it wrong both high and low. As I have said it may drop further but also it will probably rally to at least £10 and if all the MW stuff is proved to be false £15-£20 in the near future - medium term upside is more likely than downside IMO.
There will probably be plenty of ops for shorting and trading the rises, enough for all points of view.

Here are some stats from the study:
Average recovered grade 188,18 CPHT (or 1.9 carats per tonne)
1st two days production grade - 1,433 CPHT
1st month grade - 667 CPHT
Average value per carat $128,69 (from year 2000, prices have risen significantly)
Total revenue from M1 - $246,340,000
Also:
Mine produced 813 special stones (+10.8 carats)
Largest of 145 carats - part of larger carat stone that was found broken into 5 pieces. When put together, it was estimated that a further piece of about 70 carat was missing stone. This would have made it a plus 400 carat