Member Info for esduk

Thanks for the info Parker, seems like you may have been around a long time too?

The arbitrage I was referring to in the last post was more around the value disconnect between Mkango (whether Canadian or UK listed shares) and MKAR which will be listed on the NASDAQ. Arbitrage is probably the wrong term, but hopefully you get what I mean.

I think any price equalisation/[arbitrage] effect between Canadian and UK listed Mkango shares could potentially start to kick in if we have substantial US buying on both exchanges. For instance, if the UK share price trails the Canadian share price and a US investor is able to trade on both exchanges and is looking to accumulate, they will buy on AIM, and vice versa if the Canadian shares were a lot cheaper (they may trade at a bit of a discount naturally due to lower liquidity as you say).

Agree velcro, a lot of positive things have happened since the indicative $400m valuation for our shares in MKAR, suggesting that the actual valuation after they start trading could be considerably higher. My point was more that any investors who had been approached as part of the PIPE financing would quite quickly work out that they could buy Mkango directly as well/instead and get a much better deal. This may be behind some of the big buying here and in Canada. It could also be British/Canadian institutional buyers as well.

This could be the start of the arbitrage effect that we are getting/will get in the run up to listing of MKAR on the NASDAQ.

If someone asks whether you want to take part in a PIPE financing / equity raise that values MKAR at $470m (pre newly raised funds), and you do some research and find out that the company holding a large majority of MKAR is valued well under $200m (compared to its $400m holding in MKAR) and also owns a majority of a separate company that has the commercial rights to a market leading, lowest cost rare earth recycling process which is operational, modular and being rolled out in the US (with the support of EXIM) and globally, then what would you do...?

Well whether had a small effect, a big effect or none at all, thank you for getting the word out!

Does anyone have any experience of such a price disconnect between the two shares? I've never paid the Canadian SP too much attention.

Yahoo finance is telling me that Mkango closed at a day high of 93 cents, though I think that reflects the last trade price rather than the mid price. That is a 33% rise on the day and equivalent to a buy price of 50.24p! This has to be either news or an American buyer that is in a hurry, or both as SG said earlier.

Make that 29% up at 90 Canadian cents, equivalent to 48.6p!

Over 27% up in Canada, what is going on!? Usually doesn’t drive the price here but that kind of move can’t be ignored surely.

Imo a Canadian ATH shortly after listing on TSX-V in 2011 is irrelevant for the purposes of technicals on AIM.

It's up 10% since we closed at 11.30am Toronto time. Certainly bodes well!

Perhaps the American buyers are active there too!?

Another big buy of £29.99k has showed up. I remember a few months ago where we would get this big buying that ended in £.99k and it seems the same buyer may be back and potentially unrelated to the other big buying we have seen recently.

Given the timing, it's possible that they could be American i.e. set a buy order overnight for £49.99k which is actioned on opening, then see how the SP is doing when US markets open at 2.30pm UK time before placing the rest of your orders.

It's an even £300k in trades ending in £0.99k today, and I don't think it was part of the suspected plan to hold this in range that seems to be being orchestrated in the background. Berenberg were hot on the bid when the buys ending in £0.99k were happening a few months ago, and they were back hot on the bid today when those buys started turning up. See my posts from 2.49pm and 4.06pm today. All very intriguing and long may it continue.

Felt like a II accumulating to me, but could definitely be both.

Isn't August supposed to be boring in the markets?

The delayed trades definitely tell a story. We had a £49.99k buy on open, which kicked it all off. We had 11 £19.99k buys and counting from 2.42pm onwards. There are some 50k sells in there too, and some other big buys that appear to be from a different party. This definitely doesn't look like it is over, this week should be fun!

Yep, just checked my records. Highest trade of all time was 40p for 2 shares at 8.36am on 1st August when the MM's printed 38.5p and 40p trades for 2 shares each concurrently to signal a move in the bid and ask. Highest genuine trade of all time prior to today looks to be 39.5p on the same day. So that £20k at 39.9p is our actual ATH!

Make that 5, with the highest at 39.90p. I think that may actually be our highest all time trade, certainly at any volume. We had a 40p recentyly but think it was a MM communication trade for a few shares.

Right on queue the £20k delayed buys keep coming in the mid to high 39's, with the highest of the 4 at 39.8p. Now that is strength!

Should be interesting to see the delayed trades reported post close today.

It feels like it doesn't it? Very strong into close. They printed a 38.8p UT, so that's where we close. No idea if that price has any technical significance? Real bid and ask were over 39p at close.

Anyway, a great day, with a ATH close that is well above any previous close we have had. And it's only Monday!

Yeh, sell quotes were still above 39p at close. Lots of shenanigans in end of day auction, they could decide to print a low UT.

Bid dropped to 38.5p, but can actually sell for 39.26p.

Make that 39.5p on the bid, this is very fun. Glad my 4pm meeting has been delayed....