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Who knows what the motivation of the big background buyer is, but it’s those big buys and Berenberg aggression on the bid that is moving this, not PI’s. Expect more delayed reported large trades today.

Looks like we picked up where we left off!

Sorry, didn’t count one of the 250k buys, so make that over 3m buys in 100k plus trades. There are a few 100k+ trades that I’ve assumed are sells and not counted.

Taking into account the more than 1m buys reported post close I make that over 2.8m of probable buys of 100k+ today. So a couple more days like that and we will be in TR1 territory. It didn’t show any sign of tailing off into close either so it will be interesting to see how we start tomorrow.

You're right GLR, we haven't had much TR-1 chat on here for a good few years, but I see a lot more of this type of chat in our future!

Was a great day, the bid is up 1.8p or 15%. Loved watching the L2 action, on what would have otherwise been a normal, no news, relatively low volume day. That kind of MM bidding action and delayed trade size is nailed as a non-PI buyer. I'm guessing a fund, but that's just one option of many. Sorry for spamming the board with all my excited posts!

As previously mentioned, Multipartner Konwave Transtion Metals fund owned 1.86% of the company as at 31st December, according to Morningstar records. Potentially a few other smaller/specialist funds jumping on board, or Konwave upping their holding?

Market cap is £50m, possibly a floor for some smaller investment funds?

Not sure I'd go that far, but it's definitely not PI buying that's driving this so who knows??

Lots of chunky sells at or above 13.5p without any reported buys and Berenberg have just raised the bid to 13.6p. This is very unusual

Another two 250k buys come through. Serious buying from a serious buyer, long may it continue.

13.7p on the bid and a couple of whopper late buys reported, half a million in total.

Back to 13.5p on the bid, what a day so far, on relatively little volume. We have definitely been noticed by someone! I'm happy to take the 1-2p's for now. The days where we do 5-10p may not be that far off!

The reason is that there was an uncrossing trade (UT) at close yesterday at 125p, so that was registered as the close price, rather what the mid price was at the close (135p). So the "increase" today is because the current mid price is higher than the "close price" of 125p. It's quite and annoying and potentially misleading quirk of the system, but in the scheme of things doesn't actually impact the bid and ask.

Yeh the 4-8 week time slip got built into the SP as soon as it was announced, so that is a non-factor going forward. Really interesting SP action today. Lots of delayed buying in volume and the MM's are playing a square book for once, after holding it in the low 12's the last few days. I think someone with deep pockets is accumulating personally, based on the big delayed buys and Berenberg's behaviour on L2 today.

JBER/Berenberg really aggressive on the bid today, must be filling a big order.

Some big delayed buys coming through, explains the big rise.

Make that 13.2p!

Yeh was just going to say, it's really motoring, 13p on the bid

That's good to hear Chris, thanks!

RNS from 6th March is the latest info we have. They were due to get the vessel delivered by the end of March.

- Initial commercial production is targeted to commence by the end of Q2 2025, subject to completion of the required infrastructure.

- Magnet alignment presses are now fully commissioned, and the powder processing plant has been constructed.

- Infrastructure development is progressing, with data, battery, and electrical rooms completed and electrical and gas pipe installation works advancing well.

- The factory acceptance test for the Hydrogen Processing Magnet Scrap ("HPMS") vessel is taking place this week, with shipment to the UK from Germany expected by the end of the month.

- Ongoing HPMS pilot production continues to enable early product deliveries to customers ahead of full-scale production and this is to be scaled up in parallel with commissioning of the commercial plant at Tyseley.