@Rusty8. Well, yes and no. Penny stocks are rarely shorted in the fashion of borrowing shares to sell, but instead are technically shorted through online bets, so these folks will be making money. I'd thought they'd be closing soon, as the price is getting into share trading territory again, where folks load up to sell on the next piece of news. Rinse and repeat and all that. Not an entirely risk less strategy however: there's only so many times a penny share company can be put through the rinse cycle before having to do a shares conversion as part of a new ticker start up.
@Myro117. Deramping is an attempt to benefit from short positions taken through online betting shops (note, penny shares are rarely actually shorted) or, more usually, to get in at a cheaper price, with aim of selling the shares at a later point (but as soon as possible). Penny shares such as UKOG will almost always be nothing that that: penny shares. The money is trading them to take advantage of the sentiment created by the company. The company model is not to create value but to create sufficient interest that they can continue to finance, through an every increasing dilution of the share base, their salaries and interesting financial deals. UKOG has a very interesting history, going back 18 years in its various guises, and it's still a penny share.
Doesn't make much difference. With penny stocks, placings are usually via bucket shops who flip the shares. With a subscription, the company simply releases the stock to market so that retail buyers can purchase.
I don't think it's to do with this, since the large ii's, including other fund managers, would have probably known the full extent of the holdings. Much more likely to do with the announcement to release new shares
Wassett, fair does, but the inference of my post was that this could be simply people looking to replicate the sp situation as for the UKOG and SER; if anything it was a deramp. Shame they don't take on the serial rampers and boiler room merchants rather than bothering with little old me.
bizarre - I have just received a message, presumably from a moderator asking me to 'please refrain from over-promoting UKOG and SER on the TRP' board. If this was then from an autobot, then presumably I'm barred the moment I post this; otherwise it would be helpful if the mods actually used a spot of inference when reading posts.
Got the itchy finger today and added a few. Probably wish I hadn't, since I didn't have access to the idsx and now I see the pattern of offloading is still holding strong. I'm hoping the mm's will be able to continue keep it in this range for the duration. For anybody who thinks technicals on low volumes are relevant to aim shares, the MACD line is about to upwards cross the signal line, whilst we've had hammers two days in succession albeit on decreasing volume.
Encouraging response from the main man at GGG, posted on the GGG ii bb:
(Start of post)
Quality guy is our Jeff, took all of 3 hours to reply!
Many thanks for this.
Rough outline of progress:
Engineering scoping in September BFS starting in October – may announce several releases, depending on the timing of progress. Drilling September – February. This is mainly to twin holes and then followed by drilling to upgrade the resource as part of the BFS. We probably will release several news out of this programme and also another JORC update.
I can’t be more specific, but what we can say is that we are moving the project fast towards production.
Kind regards Jeff
So we have a an outline of potential SP moving events. I guess the SP may drift between these announcements but I like the last paragraph and for longer termers who are happy to park money for a year or two, GGG is as good a bet as they come.