The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I am totally perplexed as to who is selling at these prices. I get it that shorters are damping down the price but clearly they are not the only sellers.
Sadly, my view is that this drift will continue until the 5% is sorted and maybe even after that until we hear from NCM in August. We must be prepared for single figures, an almost unbelievable situation given the news flow over the past 18 months but there we are. All we can hope for is that PIs can hold on. Balls of steel required. A low ball offer is coming for our Company and we must be able to fight it off. If not we will have lost the best opportunity of our lives to enrich ourselves and our families.
No let up. Utterly frustrating in the extreme. It seems that if they want this in single figures they will be able to do it with ease. Just amazes me where all the shares are coming from to sell and worries me that there is, at last, some capitulation from private investors.
I know not 100% accurate but 12,750,000 bought and 3, 650,000 sold just sums this farce up. The pressure on many now to sell up must be immense but we MUST hold on. This will end, who knows when but it will. Just concentrate on our asset and keep a clear mind.
Shaun, it is clear now that you should speak up about the shenanigans involving the sp of our company. A few words from you and a few shares purchased will put a lot of minds at rest.
Stay strong
Just look at the after hours buys. What is happening here is nothing short of an absolute scandal!
I understand the contrary arguement but am I the only one slightly disappointed that Shaun has made no effort to address the decimation of the share price. After all it is his responsibility to grow the company and the share price in the interests of his shareholders.
Sadly, I think the shorters have arrived doing the bidding if the institutions who were forced to sell. Do you think they want to buy back high. Think we are in trouble for now
This totally barren period is probably the most difficult of times for LTH.It is hard to see what will happen in the interim to move the sp until the DFS towards the end of the year. The short appears to be dug in for whatever reason and all the good news, drilling etc. over the past 15 months has just led to inexorable decline or stagnation. In the meantime all our cash is tied up here and other opportunities are being missed.
I am totally convinced that we will come good but this interminable wait is sucking the life out of me. Probably the aim of the shorters but there we are.
At 7.40 Bamps indicated that since the Farm in period ceased after publication of the PFS then Newcrest were not obligated to provide 6 weekly updates. That may or may not be true but why did they continue with the updates after the PFS and only stop now? Do you agree or not, Bamps that the timing of this is telling and that Biswas is making a bit of a fool of himself?
In the meantime the resource gets bigger and the cost to Newcrest of buying us out increases. Crazy!
Schlemiel has it right. There is no way now, after all these shenanigans, that we will be mining with Newcrest. It is clear to me that Newcrest just want us gone and at the cheapest possible price to them. In my opinion it is as clear as day that Newcrest have been behind all the turmoil over the past year and they have been very successful in destroying our sp. The problem that Biswas has now is that he will face a shareholder revolt if he embarks on another spending spree. His task will be to satisfy his base that Havieron is a one in a lifetime opportunity and that they should continue to accept smaller dividends in the short term for much bigger things in the future. I almost, I said almost feel sorry for him. He is right. Newcrest should buy GGP but the pressures from his shareholders might be too much in the short term and he knows that it will require a chunky offer to satisfy the pi shareholder base here. He is caught between a rock and a hard place.
The internal battle at Newcrest is the key to what will happen in the next few months and all the turmoil there makes it a good bet in my view that a Rio or Barrick might just swallow up Newcrest and us in the not too distant future.
No one knows how it will play out but only one thing is clear. Hold on to your shares for dear life!
Benrumpson: The shorters here are not out to make money. They have a job to do for another entity. I think we all now know who they are. They are simply carrying out instructions to keep the price down. This will all end but when and how is a mystery to us all. HOLD at all costs because something incredible will happen.
Lot of selling today and the majority of it was in relatively small amounts. I so hope that private investors are not throwing in the towel now. This is exactly the playbook for the big boys. I may be wrong but I feel that we are approaching the end of this horrific slide in the sp. It would be tragic if holders give up now of all times. We need all the pi that we can muster to fight off the inevitable low ball offer which is coming from our esteemed JV partners
Shorters not letting go just yet multiple 100,000 and 200,000 sells coming in to tamp down the excitement. What a ridiculous situation this is. Who else would have an interest in keeping this price controlled other than our esteemed partner
Everyone must surely now see that our Joint Venture partners are now, and have been for the last year, not aligned with the best interests of our company. I suppose that is to be expected really. Over that period it has become clear to Newcrest that Havieron is way way bigger than they ever anticipated when the Joint Venture agreement was entered into. At that time they perhaps anticipated that our share of a pretty good asset could be obtained for around £500,000 and Greatland shareholders would doff their cap and thank them for their generosity. What has obviously happened now is Newcrest can see that to pay us off will take multiples of that sum and they are now doing their damnedest to avoid doing so.
I am of the view that they are behind the disgraceful manipulation of our share price over the past year. They have consistently tamped down expectations for a long while perhaps starting with the less than massive numbers in the PFS. MRE2 was then promised in December of last year then delayed until this month. Now, if Shaun is to be believed, they may want to put it off until the FS announcement at the end of the year at the earliest. Now why might that be? The shareprice has been decimated by the games at play; a large PI base has become increasingly nervous and they deliberately produce no measurable increase in the total reserve although each and every drilling report has been stellar. By the time they provide the market with updated numbers nearly two years will have elapsed since the initial MRE. Given the amount of drilling information which has been forthcoming in that period that behaviour is nothing short of misleading and disgraceful. Why they are behaving in this manner is obvious. Batter down the shareprice hoping that a low ball offer will take us all out and in the meantime get their extra 5% on the cheap.
How very mistaken are they in thinking that the well informed PI base will be taken in by all of this. From all accounts we hold around 70% of the total shares. If Newcrest want Havieron they will need to pay up big time and that is a fact. As can be seen Biswas is under pressure from his shareholders for spending too much so he is now doing his best to roll us over in the cheap.
It will not work!!
When a low ball offer comes and, given Newcrest's recent behaviour, I have no doubt that it will be derisory, all of those here who have substantial holdings must be organised and act as a unit.all the angst we have suffered over the past year will be for nought if we don't. Practically, perhaps a Facebook page giving general information and detailed instructions how to make sure our votes are counted.
If we all stick together our futures can be secured.