Member Info for DanTheMan105

I'm not disappointed at no RNS this morning; the US was off yesterday for Labor Day, and don't return to work until later. And I think they're central to the bonds operation.

Absolutely on both of those thebottomline. Can anyone pinpoint the date of the first outbreak of 'So Answering Disease' (SAD). And there's something about 'can I get...' which in my mind tries to identify the customer service person as an obstacle, or necessary evil, which I find rather unattractive.

I don't think we should lose sight of the fact that Alan Green is a journalist. And journalists generally write what they are told to write, or paid to write, or what they think people will pay to read (I'm sure there must be honourable exceptions, but....). Is is possible that he has no idea of the millions of tons of take or pay offtake agreements, or the partnership with ADM? Is he a fool (motley or otherwise), or perhaps a knave?

My rule of thumb relating to 'analysis' and 'reports' is :
This lot http://siriusminerals.com/investors/publishing-analysts/ are employed by the company, and will paint a rosy picture, within the bounds of truth of course, including the regular 'targets' of 60p or thereabouts.
Anyone else publishing a 'report' will be writing whatever seems to them to be most enticing to the reader (clickbait) and is to be read on that basis. I include 'respectable' outlets like The Times/ Financial Times; all articles are written by journalists of a sort.

May I quote from the RNS of 6th March, regarding the purpose of the fundraise:

Use of Proceeds



The net proceeds of the Fundraising will enable the Company to:
· maintain and expand its existing operations in Cameroon, with a focus on securing new customers and increasing revenue;
· complete Well LA 108 at Logbaba and fund the ongoing development of the Matanda project, a key focus for the Company;
· continue to implement its cost reduction programme in both the London and Cameroon operations;
· restructure and reduce the Group's existing bank and trade indebtedness; and
· fund its working capital requirements.

I just saw a copy of Members' handbook on the VOG board. Thought it might be of interest.

https://messageboardfools.com/bashers.htm

Ah, Mr 1 Post. Let's all panic - Not. Don't let the shysters have your shares. Scambugs (er, is that a word? - it is now.)

Funny how Mr Members appeared within minutes of that sudden flurry of downward activity in the market. He last posted on this board on the 6th of July, so either he's been on holiday, or mortifying his impulse to tell us his views, or.... maybe he's been busy assisting the shorters at PMO/ TCG in the interim? Check his history against movements in the shorting record.

I notice the familiar multiplicity of piddling sells is depressing the share price with remarkable efficiency. I suggest this is good news, allowing persons unknown to buy some cheap shares before good news is announced.

I take it you mean this:
2019-07-19 12:02:20 16.06 14,926 16.45 15.95 Sell 2,397 UT
So is it a misprnit, or can the bid sensibly be higher than the offer? If so, why?

P.S. I don't mean to be a gloomy so and so, but it would make more sense if it was a sell, specially as the SP has taken a bit of a tumble in the last few minutes (16.46p as I write).

2019-07-12 13:23:15 16.58 6,300,000 16.55 16.59 Buy 1,044,540 O
...which was nice, but my second thought was - if you're the sort of chap/ institution with £1M to invest in Sirius, why would you buy all those shares today at 16.58p rather than the day before yesterday at 15p? I'm genuinely puzzled.

Famous last words, but I think that 16.5p or thereabouts may be the next station on the line; the battle of 15p may be over, and the grip has been broken (or released). 16.5p is 10% up for all those shares bought at 15p, and I think that a lot of them will be changing hands around this price. Until the bonds are successfully away, and a new bunch of investors with a different horizon get on board for the next leg.

I'm thinking that it may be a good sign that the number of shares Capital have out on loan (presumably shorts) is the lowest since May 29th. And that hopefully we may think of the SP as being on the end of a piece of elastic, currently being held at around 15p by short term actions of the market; the other end is attached to the NPV of the project, which is moving inexorably upwards (barring asteroid strikes etc). Sooner or later, 15p will have to let go.

Sorry, P.S. these two articles might be interesting; they shed some light on the multiplicity of small 'AT'/ ALGO trades, and also (I assume that the London market operates in a similar way to the NYSE), the function of off-exchange trading. It might also explain why sometimes our own trades seem not to appear in the lists at the time we make them, or at all, depending on the systems our brokers use for making the trades.
https://en.wikipedia.org/wiki/Algorithmic_trading
https://www.reuters.com/article/us-dark-markets-analysis/dark-markets-may-be-more-harmful-than-high-frequency-trading-idUSBREA3508V20140406

FFC, I think I agree with the 'middle men' description; I could also describe it as being like a bank - an individual or institution may 'sell' shares to the bank, which then organises making them conveniently available to other investors to 'buy', at a premium which represents the cut for the 'bank'. It is my impression that we are working with more than one 'bank', the London Stock Exchange SETS system, which is the largest, and most automatic and transparent trading system, represented by 'AT' trades during opening hours, and coordinating the uncrossing trades (UT) after closing, or periodic auctions during the day. Then there are other 'banks', operated by firms of Market Makers and similar, who make their deals in a similar way, but are not connected directly with the London Stock Exchange SETS system. They then report their trades to the main market according to the rules for 'Off-Book' trading. These trades appear with an 'O' code, which our LSE (London South East) confusingly refer to as 'Ordinary' trades, rather than 'Off-Book'. Compare the trades and trade types between London South East and the real London Stock Exchange pages for SXX trades. What seems to complicate matters is that the Off-Book entities may be able to report their trades 'When they want' and 'If they want', for example after closing time, perhaps to avoid influencing the 'official' London Stock Exchange share price during a session. Please feel free to correct any of this analysis - it's all for the increase of understanding, mine included. Dan.

sorry - siriusminerals.com (plural)

Suggest go to siriusmineral.com and click on 'project latest'. All the piccies are there.

I read it as:
Capital Group (total) = 6.6042%, which agrees with SXXs list of major shareholders http://siriusminerals.com/investors/shareholder-information/significant-shareholders/
of which:
Capital Group Smallcap World Fund has 5.335%, and the rest are held in other funds etc which do not have notifiable numbers of shares individually.
https://www.americanfunds.com/individual/investments/fund/smcwx
Sadly the only note of the SXX holding on the Capital Group Smallcap World Fund page is a quarterly report dating from 31/3/19, which was 191,851,849 shares, but obviously doesn't include placing shares. Sort of interesting, this though..

I think the RNSs refer to the same entity - The Capital Group Companies, Inc. ("CGC"). As I read it, on 21/6, their total voting rights fell to 4.9565% as a result of about 0.6% more of the SXX total being out on loan (presumably for shorting). On the 24th, the total voting rights went back up above 5%, thus triggering the RNS, as a result of about 0.1% being returned (shorts closed?). How does that look?