Member Info for esduk

Just one MM left on the ask at 305p, think that will change soon as Gold continues its rise unabated.

Can sell £75k's worth above bid though, so definitely buyers about.

Some very weird price action going on here, up and down like a yoyo. Must be more stuff going on in the background.

What a difference a day makes (24 little hours...). It's a funny old game sometimes

And there we go, bid up to 37.5 / ask up to 39

38p ask looks likely to fall soon, only one MM left there.

Up to 37 / 38

Strong buying pressure, up to 36.5p bid / 37.5p ask. Well done to those who have taken advantage of the drop.

Here here, fantastic post as always Floyd! You're a massive asset to this BB.

By my count there have been six 50k buys delayed reported so far this morning. So we do have some proper interest here.

Wow, moving quickly, 36.5p bid / 37p ask.

*36p ask

After the tree shake to start seems to be bouncing well off 34p support. Currently 35.5p bid / 35p ask.

MM’s up to usual tricks this morning. Dropped it straight after open (despite NT in to close yesterday) but was getting no trade for my top up at 34.50p. Had to pay a bit more in the end and we are back to where we started.

Amen brother

Very little chance that Gold drops back materially from here if we get past Friday's US non-farm payrolls without a positive surprise (i.e. jobs numbers comprehensively beating expectations). The key resistance at $3,430 and then $3,500 looks like it has been well broken, so the only other things beyond the job numbers that will cause a material correction are highly unlikely. These would include:

1) World peace / end to Ukraine war - would be lovely, but is unlikely

2) The US Federal Government balancing its books - they tried that with Elon / DOGE, how did it work out?

3) The US Federal Reserve proving that they are independent and will prioritise controlling inflation - highly unlikely with everyone afraid of Trump, Governor Cook being fired, Trump appointing his yes men to the Board and Powell being replaced by May at the latest

4) The BRICS falling out with each other and deciding to move back to trading in US$ and increasing holdings in US treasuries - doesn't look likely based on the Modi / Ji / Putin love-in

5) An end to US tariffs - yeh, nah...

Of course I'm being a little facetious, but you catch the drift. The Gold price is being driven by a lot of macro factors (many of them linked to the US dollar / de-dollarisation / loss of $ purchasing power), and none of them look like they are going to change course any time soon. So, get through Friday unscathed and $3,750-$4,000 is most likely in the near future.

I think the main point is that if the SPAC with CrownProptech fell through for some unknown reason on their end then we would just replace them with another shell company. They bring little to the table, other than a bit of cash and a NASDAQ listing. Using a SPAC saves about 6 months and some money vs applying for a new listing, which is why Mkango took that route. The Songwe and Pulawy assets provide all the value here, not the shell company, that should be pretty obvious.

If you are a LTH, particularly if you read these boards regularly, then I think you should understand much of this. You should at least read the RNS's in detail and ask better informed questions imo. Anyway, hopefully your questions have now been answered and we can move on. If you are genuine, then good luck to you, but I expect a bit more knowledge from someone who has been invested for 7 years.

Jnr, there is something like $6m cash in the existing shell company. But the funding for the development of Songwe and Pulawy will come from the PIPE financing that will go alongside the SPAC. Read the BCA RNS from 3rd July if you want to understand it.

If you look at the trades in the run up to the warrant conversions you can see the big sells that account for the warrant related shares being forward sold. I've got all the daily trades on here going back three months, and have been monitoring them for this reason.

LockerRoom, got to disagree with you on the warrant front. Any warrant holder worth their salt will have forward sold the warrant related shares before converting them to lock in the price or sold the equivalent amount of their existing holding to lock in the price, rather than converting and then selling the shares in the market and taking price risk. If the selling of the last few days is related to warrants, it will be the 16.6m that remain, not the 8.3m that have already been converted as per 16th July RNS or 15th August RNS. This is the way it works on AIM, why would you choose to take any price risk when you don't need to.

As to whether this is warrant related, it could be, but I'm not so sure. They have previously forward sold/sold them into strong buying volume as the SP has moved higher, rather than selling in the market when there isn't the equivalent buying pressure and having a big negative impact on the SP.

On terminology, you're right, this isn't a crash, I should have said to "justify the big drop in share price today".