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Possibly, but if that is just a delay to commercial operations start date we had pretty much priced that in already.

Top up for me

Someone’s shooting 50k sells on repeat, crazy SP action today

Three big delayed buys reported there, for £47k in total. Someone either placing a big bet or already knows something…

Ok thanks for the insight Jimzi. So the 500k potentially keeps a lid on any rises/keeps us in a range, but within that range its price on the ask reacts to buying and selling pressure.

Thanks for the info Jimzi. Agree that prospects are too good to be distracted by it, but still find it fascinating. Would love to know whether the SP range reacts to what price the 500k is set at on the ask at open or whether what price the 500k is set at responds to buying/selling volume/potential news. In other words, is the pricing of the 500k driving the SP day to day?

Ok so they have raised the bid now as well. Big background buy? RNS logged? End of selling? Or MM’s just having fun?

Yeh I don’t think anyone would be shorting (selling started a month ago) based on missing the commercial operations start date, which as recently as the other week the company tweeted was on track. They certainly could do an intraday RNS today or an RNS tomorrow morning, but I think no RNS this morning means it’s more likely than not that they won’t hit the deadline. A pity but as cyber says, not the end of the world if it’s only a delay of a few days/a week or so.

Let’s hope it’s a repeat of last year kp

Yeh I think the BCA deadline is relatively easily extendable, and am not expecting a BCA announcement tomorrow (would love to be wrong!). The RSU’s for the management team are linked to the SPAC listing by year end rather than a particular date for the BCA. If there’s not announcement re commercial operations start tomorrow Will and Alex will be losing out on £157k each of shares (at 15p), so that is a pretty big deal for them (or anybody really!).

Monteacute, I remember 2021 fun and games fairly well and there was certainly a lot of large delayed trades (often buying), with many post close prints and some delayed by more than a day. That action is reasonably normal on AIM. The difference with the recent action is that as far as we know right now imo there has been at least 12-15m volume of these types of trades (3.5%-5% of the company) without any explanation i.e. placing being forward sold, warrants being forward sold, shorting, large shareholder selling down holding (there are only two on the share register with that many shares and we’ve had no holdings RNS yet). We seem to have been held in a range, despite the fantastic news and macro backdrop. This is AIM so there are nearly always games afoot, but imo, as codejunkie says, the recent action is pretty unprecedented. Greatland Gold a few years ago from what I now understand of it was in a much riskier position than we are with MKA today. I’d be surprised if anyone had the stones to short this when we are on the cusp of so much transformational news.

Anyway, good luck all for tomorrow, let’s hope we get at least some of the good news we all deserve, and can continue on to the next leg of this great journey.

Interesting thoughts explo. We did see the big sells start on Friday 30th May, always delayed, often after close, and then the one for over £100k on the morning of 5th June that many of us thought was the end of the big seller, due to the immediate SP reaction and the lack of massive delayed trades after this. The biggest day for them during the 30th-5th was Tuesday 3rd, where we had over 4m printed post close.

We have still had some big delayed trades in the past few weeks, but these were smaller and less intense than during that initial period. It's a strange one indeed, and I haven't seen anything like this here or elsewhere on AIM in the 14 years I've been investing on the index.

I think the 20% of the RSU's that are related to Tyseley commercial operations start date shouldn't be extended if the 30th June deadline is not hit. The RSU's have a deadline attached to them for a reason. They're meant to give credibility to the dates the company communicates for major milestones by giving management more skin in the game, and subsequently build investor confidence. If they were just to extend RSU deadlines every time they were not hit, they would have no meaning in the market.

I see what you are saying about the RSU's attached to the end of year SPAC listing deadline, but we should hold most of the cards in that negotiation and they must have given themselves some buffer when setting it.

I wouldn't have thought that orders were the problem given they have been aiming for this date (or end of April previously) for a long time and we are starting at a relatively small scale, before ramping up. Would have thought they would want a Minister or someone else important there to cut the ribbon and get into the national media so maybe it has all been set up for a grand opening on Monday.

Will, Alex and Robert will be losing 20% of their Restricted Stock Units (RSU's) if they don't hit the Monday deadline. That's 20% of 5.24m RSU's for Will and Alex, and 20% of 2.4m RSU's for Robert, which equates to £157k for Will and Alex (at 15p), and £72k for Robert. I'd be working pretty bloody hard over the weekend to make sure it happened if I was in their shoes!

Agree, it would be ideal to get them separately to build momentum, but I would have thought that the BCA valuation will be the main SP driver as it is the big unknown. That is, unless the operations start announcement comes with lots of juicy details on planned expansion or offtake. Buying has certainly picked up, no reaction from MM's...

Not making any more predictions, as I have no clue what's going on, but I would absolutely love that!

Yeh certainly not thinking there's an issue with the company that's causing the selling cyber. The volume of it (12-15m by my count) means that it could only be Talaxis, Stewart Newton or forward selling of warrants, unless it is multiple parties selling in co-ordination. The 20 business days since the start of the large selling are up, so the T20 warrant selling theory is starting to look less likely. A few decent buys this morning, let's hope we have a strong finish to the week and a nice positive RNS on Monday morning.

Thanks explo, that chimes with what Jimzi and a few others were saying a few weeks back. There has been a big seller sitting on the ask in volume (on proper L2 not the amateurish LSE L2 I have access to), and they have kept the SP pretty supressed for over a month now. Very frustrating and I hope we do eventually find out why, but still remaining positive, and still invested with my highest level of shares held at any point in 9 years of ownership. Any chance that it's Talaxis wanting to take this over in full, but using their current holding to supress the SP at this level before they make their offer?

Another big drop on the bid on more buying than selling. I really do hope we get an RNS tomorrow about warrant conversion (though I'm not confident), this SP action/reaction is getting old.

Don't disagree with that Bod, Mkango have never been about marketing to PI's, it's just not their style, which tends to make me trust them more.

Failure to deliver to an already pushed back commercial operations start deadline would be more of a concern than level of marketing from my perspective, as it risks losing credibility with the market. I think people would have a right to be frustrated if that were to happen. The BCA deadline is a little softer given it is extendable, though we know that it takes circa 6 months to get from signed BCA to SPAC listing, so if it's not complete in the next few weeks that end of year hard deadline would look increasingly difficult to meet.

There is general frustration about the lack of movement in SP given all the good news we have had and the current macro environment, I guess some think that with better marketing we would be in a different/better place. I'm not sure that it would have changed too much given that we had a big seller. Hopefully the company have something to shout about shortly and everyone is happy once more.

I’m not certain how it works StockGenius, but the big sell trades started on Friday 30th May, so 20 business days later would be today (Thursday 26th) or tomorrow (Friday 27th), depending on whether it closes on the 20th day or the day after the 20th day. If no news of warrants (or placing which I doubt) this week, it wasn’t forward selling via a T20.