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I think it just goes to show just how crooked the market is. Market dynamics routinely ignored on both sides, both sell and buy. Organisations able to get millions of shares at a set price on the open market and the MMs can arrange it so that it does not affect the sp at all. Millions of buys, or millions of sells, it makes no difference unless the market makers decide that it does.
Usual AIM short term reactions by the market makers looking to flush out traders over the past few days. Likely counting on the fact that they believe all the news has now landed and if traders profits are hit they will sell up and move on, also gathering any stop losses set over the last few days rise. Once they have their pound of flesh we will move on.
Regardless of short term sp movements, whatever they may be, the future of this company can hardly now be put into much doubt. That will inevitably result in value for shareholders significantly higher than todays levels. I dont particularly care about what happens today, I am happy that in a year or two's time the company will be very, very different to the one it is today.
It has the option to convert two $11.5m tranches, once after the first anniversairy, and again after the second. Also note this:
The holder will not be able to divest any Bushveld Minerals shares received for six months following conversion and be subject to an orderly market arrangement for the following six months.
I think considering the deal that they managed to get this is very little to have to manage.
Maybe some don't appreciate the value unlocked by being granted the permission to mine the ore at Mokopane, but many here do. It's the second largest vanadium deposit in the world and is the reason many investors got on board with BMN to begin with, even before Vametco was in the picture. Not only that, but BMN have streamlined and sped up the process of being able to utilise the ore at Mokopane without needing to immediately build a costly greenfield processing plant. We literally could not have asked for a better scenario. The upside here is now very significant regardless of V prices, especially considering that current prices are fantastic for the future of VRFB.
They are "tame" as the MM that they have gone to in order to sell their shares effectively have them over a barrel and can sell their shares whenever and however they wish, hence them being tame. If an MM has a pot of tens of millions of shares, they will do whatever necessary to maximize their profits. Regardless, they seem to have run out now. And well timed it would seem. Odd that.
There has quite clearly been a pot of shares at the disposal of at least one of the market makers, likely a member of the march placing last year. The tame seller would have set a bottom limit to what price they would accept, say 100% profit, which for those placees would have been around 20p. It's then a matter of slowly walking the price down over a period of time, taking advantage of institutional and private investor shorting to lower the sp. Only when they have run out of shares from their pot, and they absolutely have to, do they let go of the sp.
With Bushveld Energy gaining momentum and building the electrolyte plant BMN can also no longer be classified as simply a mining company. As such it should, technically, attract a higher PE ratio more akin to that of a tech stock.
Fantastic news Pdub! So glad for you.
And a blue day too. This break out will have sent a buy signal to all of the technical traders, as was evident on twitter which suddenly got a bit more lively around BMN yesterday. Next main resistance line is around the 26p mark, if we can break through that then it will really be on its way.
Blizzard back peddling... I've already deleted Hearthstone due to this and will think twice about buying from them in the future. Good to see them bowing to international pressure and not being tied solely to China's political desires though.
I doubt it will have any impact here, just because of the kinds of games Fdev make. They aren't competitive like Blizzards, so are unlikely to to incur any uncomfortable public clash of interests. It will be worthwhile keeping an eye on though.