Member Info for Daisan

Somtam67,

No. The rest is held by the BEE partner.

Well, only some of the money raised was from the capital raise. The rest was from cash generation.

I agree. I was expecting a delayed sell from this morning but that after hours trade is revealing.

Looking at the trades around it, I suggest that it was a sell and explains the rise subsequently as the overhang was removed.

And 19.5p paid. Interesting. Could the selling be drying up?

If the only issue is a share ownership scheme then it would not seem like too much of a mountain to climb. I presume the company in whose shares they will be seeking ownership is Vametco Holdings (currently owned by SML and the BEE partner). I have never been part of a share ownership scheme for a company that isn't quoted so do not know how complex the process is. I have in the past been part of a scheme that provided similar benefits when the company is sold but this didn't provide the ongoing (dividend) benefits of a SOS.

Loudspeaker,

No covert criticism of you intended by the way. I think that you do a great job of keeping the board informed.

I'm not quite convinced by Asian Metal's daily pricing. When I have tracked it over a few days the projected prices don't seem to align with other sources. It is a good indicator, however, of the direction and the strength of move. It would appear that this is both positive and getting stronger. Now we just need to produce and sell some.

Raffym, 10m shares is 1% of the company rather than 0.1%. And if they are dropped onto the market at the same time as other sells and buying dries up then they can have a material affect.

BigBiteNow,

Whilst I agree in principle with what you have written here, the market will inevitably focus on the strike currently as the information in the public domain suggests that we are not producing. As such, even if we have stock in inventory (given the Vanadium market this must be limited at best), there will be a point in time when we are missing (opportunity) revenue. As you point out (provided the strike is limited in time and the target is still reached) then the rise in FeV price and falling Rand will result in an increase in overall anticipated revenues for the year. But at the moment we do not know when the strike will end (although end it certainly will) and this is surely front of mind for many investors.

Of course, if you believe that the strike will last at most a week or two, then the fall here has been considerably overdone and this could be considered a buying point. If the concern is that it will last longer then it is understandable if people wait until confirmation that it has been resolved.

That 250k trade does indeed appear to be a buy. I suspect that there is still a missing trade around that time.

True. But it is often relatively easy to unpick the trades. At the moment it seems to be particularly difficult as the pricing is so volatile.

Hmmm. That is a strange transaction and occurred just at the point when the fall accelerated. Whilst I am pretty sure that it is a buy, the price action could suggest otherwise unless we see a bigger sell pop up later. To be honest, it is difficult to keep track of what is going on with all the delayed trades, etc.

But that was indeed a strange dip. There was a trade at 18.75p but if it is the case that there was nothing to buy then that does appear to be a fishing expedition. Whatever happened it seems to have prompted a bit of a recovery.

Not sure that is completely the case Endion. There have been several occasions where some large trades crop up that appear part of a coordinated sell that is followed by a warrants RNS. There are advantages to selling the warrants before conversion and nothing really to stop it.

But there is no point buying back on the market if you can cover with the warrants. Anyway, not much point to this discussion either as the share price is getting a bashing currently from whatever direction.

But then it is not a short. A short implies that the shares have to be bought back in the market. If it is backed by warrants then this is not the case.

Well, you've managed to get a price of 19.08p posted on the back of that news!

If they have access to the Atlas warrants then I don't really consider this a short. It does, however, give an indication of how many they have to sell. In my experience warrants of this nature tend to be pre-sold so by the time the conversion announcement comes they have probably already gone.

Whatever the reality of the situation, and thee are many ways to obfuscate, it is clear that there is some form of overhang which has been exacerbate by the recent news items. We need to be reminded that news can also be good.....

Once more today we are seeing a steady erosion of the ask price. Occasionally there are sells but the majority of trades (although lower volume today) are buys. We have had a couple of delayed trades published (sells) but the current price action suggests that we will see more. Some of the sells are smallish but there does seem to be a preponderance of larger sells. A plausible explanation would be that we are seeing the continued selling of a large holder (recent experience suggests of warrants) that is now combined with some selling as a result of recent news. The combination is currently overwhelming what is still substantial buying. Of course, at some point the selling will reduce and I would expect the buying to result in a relief rally (inevitably associated with the 10%ers).

Needless to say, news can have a considerable effect.