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No Jam tomorrow, when it arrives in a couple of years time it will be multi millions less when compared with original promises, the new old BODs actions have ensured they are paid for the next couple of years when they will raise more money and increase their pay, pensions and share options.
Again if the daily price. chart is checked the MMs have a holding pattern for the smaller deals between 30p/35p also if the price moves up seconds later the buy price moves in line -but if the price drops lower the MMs do not adjust the prices as rapidly if at all.
Over the last three days the manipulation of the average pricing line is the best MMs consistent manipulation of an sp I have seen for a long time, they steadied off the price by operating in an 'agreed price range'
It's rare to see such a concert party in action unfortunately little can be done about it.
The spread is currently shown as 25% ( due to the constantly changing price)and is correct and shown as such on most platforms but dealing is usually quoted well inside the spread sometimes over the price shown at the time of the deal.
The fact that they had commissioned Barclays to find them a suitable partner drew my attention to the stock as well as the recent funding and the fact they are a producer .
So I bought in and think its possible 10p/16p+ is in line once news comes out
The shares are good for trades once the sp has fallen back to its previous 0.09 range .
I view it as a term hold.
The next RNS will give news resulting in more trading interest giving several hundred pounds + profit per million shares if bought in right which is why it is on my watch list.
Astute comment Jed
Inevitable the sp will drift back to the .10 mark as interest dies away until the next RNS so on watch list
Right now a fraction bagger, becoming a multi loser as the sp clipped just clipped 39 for the first time in weeks-watch out for a crash dive?
As mentioned yesterday sp is due lower 40's into upper 30's,should the sp go into the 30's no telling where the next stop is
Still a waiting game before buying in imo
Expected an early morning basic RNS , did not arrive probably due to the worst flash flooding in 140 years from which they are rapidly recovering
Start of the days sp does not auger well for any sign of lift off although too early to tell so its watch and wait to see which way it is going to go before buying in .
The Placing has been arranged within the Company's existing share authorities. Premier intends to use the proceeds of the Subscription principally to provide funding to support the ongoing optimisation of the plant at Zulu and general working capital. In particular, Premier anticipates using the proceeds of the Subscription, together with the proceeds of the Placing announced on 25 August 2023, to meet the costs associated both with the interim mill installation that is expected to see production at 1,000 ton per month of spodumene from November 2023, the installation of a thickener and larger ball mill that is expected to see the plant achieve design throughput from Q1 2024.
'Working Capital ' The inclusion of those words gives me the impression they are tight on money otherwise why include them?
I know in some cases they are standard phraseology ,here in view of past events/track development record there may be more delays
Looks like an increasing fall off in the sp somewhat faster than I expected probably caused by the news due tomorrow.
Sold out my Friday buy at 53.65 on 50/55 making a small profit.
Possibility of hitting low 40's to upper 30s
So waiting to see where the sp goes before stepping back in most likely tomorrow morning when there may be a DCB dependant on news.
25.5 billion shares in issue does not help the sp especially as the raise was at .35p ps. a heavy discount to the
May placing as it was at .925p ps
The recent funding will not last long
There will be a consolidation in the near future to make the stock attractive to IIs and HNW investors meanwhile the sp continues to languish at its lows but the additional funds mean the company can carry on developing its pathway to production.
Looking at the chart it appears the MMs are holding the price in the 50/55 range it should eventually break out, other than that it Looks like a small profits day.
A 20k sale went through at 51p ,it always surprises me sellers don't split larger number sales into range of the NMS .
Meanwhile the production of all electric vehicles starts to increase exponentially taking up all available battery production eventually leading to a shortfall in supply of batteries so increasing the price of lithium as demand also increases exponentially.