Member Info for cminhinnett

Nice to see a 2m & 3m buy go through this morning

Along with a 9m buy and a 9.99m buy, both delayed

Decent results with margin in July actually improved when compared to June 425k vs 380k, despite lower overall revenue. This is a pleasant surprise given people's expectations. ARB going from strength to strength.

MMs up to their usual tricks again, they know what is coming............................

So according to the valuation report completed in 2009, Gold Ridge was valued at $20m then, since this report was published, the gold price has more than doubled and is forecasted to go much higher, so what's Gold Ridge worth today, $50m plus or higher? Current MCAP of MNRG is less than $2.5m. Massively undervalued, especially if you add in the UK O&G project where news is expected imminently.

As I pressed send, the 1m delayed sell popped up, now that this is reported, if the buying pressure continues, we should move up swiftly.

Some very strong buying so far this morning, MMs changed the spread & live prices so that the algorithm prints all the buys as sells, interesting, looks to me like they are trying to portray a selling market and accumulate shares sub 7p if possible.

Agreed surprised, personally I feel that it is inevitable, therefore the question is when. Surely coming out of a global pandemic and with forecasted +ve EBITDA in 2nd half of the year would be an ideal time to accumulate additional shares..................... I am holding LT as I feel bought out or not, given the cost savings, recent focus on additional channels and leadership changes, coupled with successful acquisitions will drive the SP higher.

steve196, tbf the drop in revenue was largely expected as a result of the pandemic, you have managed to miss off the key take out for me which is that they expect to be EBITDA positive in the 2nd half this year, this is significant for me.

Totally agree CaveatEmptor, I have certainly 'taken advantage' of this drop below the placing price, it looks like it may have bottomed out around the 6.7p - 6.8p range and I believe that it could move back above 8p and beyond quickly.

sharegnomie, it is likely that some of the investors who took part in the fundraise will flip their shares for a 10% gain and be happy to retain the warrants, a bit of a no lose situation for them. Therefore the MMs have a supply of shares currently. Interestingly they are showing the majority of buys as sells, odd if they have shares to shift as you would think that they would want to encourage buying and not selling - MM actions never cease to amaze me. Personally I have topped up today as I see this RNS as very positive, especially given the current and forecasted price of gold and the premium that Clogau gold commands.

HappyRob, I have been noticing exactly the same, as soon as the Ask drops to 0.45p, the 1m buyer hoover comes up and mops up any loose stock.

It looks like it ocelot, again getting a price that doesn't seem to be available on the market. Confused.com

Agreed, also not a huge volume in total, however the MMs decided to drop it by 12%. I was happy to grab a few more and tuck them away for the re-rate.

The recent sells seem to happen at a price which isn't available through normal channels (slightly higher) so I feel that it must be arranged with the MMs as they seem to take a number of buys and then drop a sell. Interestingly the last trade is slightly lower in volume at 2.95m than the previous 3m sells, the MMs are also maintaining the Bid having taken the sell and are asking 0.0963p for 2m on IG................... Interesting

All the 'sells' at 1.40p are actually buys, I think there will be a delayed sell printed later, probably a flipper from the recent raise. The Live Ask has started to move back up, now 1.4125p to buy, so if the buying volume continues, we will continue the re-rate.

Rylander, those figures from LSE will be based upon the way that the trades are reported which is simply, above mid price = buy below mid price = sell. That is why it is always good to monitor live prices to get a better idea.
Mms can't control how they are printed, however they can manipulate it by the spread and Live Bid & Ask. Hope that helps?

I guess that our predictions were correct - lol :-)

Rylander, the trades @ 1.10ish are sells and not buys, the MMs are offering a live Bid just above the mid point so that they get printed as buys when in fact they are sells.

Definitely looks like someone is accumulating, MMs seem happy to collect shares in the 0.0450p - 0.0475p range as they seem to have a large buyer, happy to pay 0.05p, second 15m trade just been printed...........................