Member Info for esduk

50's it is!

I should say, I think most/all of those invested in Mkango and Sovereign came to their positions in Sovereign independently, rather than through recommendations on this board. I always knew about Sovereign given they were in Malawi, but it was reading a Charles Archer analysis piece a year ago that led me to research it in detail and eventually invest.

Sovereign is one quite a few of us on this board also happen to be in coincidentally. Has had a big run up recently, including today. Not been many pull backs to take advantage recently unfortunately. The time to get in was when Sprott was selling some of their holding and the DFS was delayed, when it reached 25p. Bonker was shouting about it at the time. I was already in in the low 30's and didn't take as much advantage as I should have, but have a decent position. Imo it's a potential 10-20 bagger within 3-5 years if it doesn't get taken out. If it gets taken out maybe 2-3 bagger from current price.

On the question of checking / analysing the SP too much, I would certainly appear to be the worst offender. It's become part of my daily routine and something I probably spend far too much time on. I have every transaction from the last 10 months logged in an excel file for my records. I take a break at the weekend and on holidays / when having people stay. I also make sure not to encroach on family time. I work flexibly so my Mkango obsession doesn't cause too many problems there either. But yeh, I don't see it changing until the end-game, Mkango is a big part of my life and a big part of my wealth, and most of all I enjoy it.

Looks like we took up the baton from the ASX and ran with it! Next stop 50's?

In other words biffa, I think we have already had a massive buy (500k total) in blocks of 100k and 200k between 54.80p and 58.90p between 09:09 and 09:20 yesterday morning. The MM's seem to have sold these shares without having them (there was relatively little selling volume yesterday) and now appear to be short.

They didn't get any sellers in the 52p's and 53p's yesterday so they raised the actual bid to the 54p's (while keeping the advertised bid at 53p so as to temper SP momentum). They still got no selling volume when offering 54.5p, 54.6p and 54.8p yesterday so have now raised the actual bid to 55.06p.

*Apologies, should have said the 500k that they sold to a buyer in the 54p's yesterday morning.

The advertised spread is still massively misleading and MM's are clearly still short of shares / there's a big buyer about. They still need to cover those 500k they sold to a buyer in the 53p's yesterday morning.

True bid / ask spread for 5k = 55.06p / 56.80p

They will pay me above 54p for 200k

They will pay me 53.3p for 300k

Smoke and mirrors.

We were up 6.5% on ASX overnight.

More than a couple of big buys turned up in the end: 500k total buys in 100k and 200k chunks between 9.09am and 9.20am. Where are they getting the stock from...? No wonder they are bidding for 300k at over 53p, MM's must be short. Probably thought they could shake some more out with the drop first thing. Don't be fooled.

Looking at shares today that are slated for inclusion for the first time in either the GDX or GDXJ and have seen them outperform their peers substantially. Definitely think GDX and GDXJ took advantage of yesterday's slam to build their positions. It's likely that this was one factor in the big rise we had today.

Quiet day here. Big buyer doesn’t want to pay up for shares and no one appears interested in selling at this level. I expect a couple of decent sized delayed reported buys to turn up later based on the L2 action.

Agree flundra, it’s how Canadian warrants are structured, they tend to give themselves an acceleration option and make use of it to reduce the level of implied dilution. Much better system than here in the UK imo, as it gives the Board much more control over level of dilution and the meeting of potential funding needs.

There is a possibility that they are accelerating because the want to make use of the money, but I don’t think it’s likely linked to cleaning up their balance sheet before the SPAC listing as Hypromag USA is being listed on the Nasdaq, not Cotec.

Was just going to post the same SG, 7.5%! How not to make a market...

True spread as follows:

5k - 54.61p vs 56.52p

Can sell 100k for 54.5p

Can sell 200k for over 54p

Can sell 300k considerably above bid

Tells you everything you need to know. We can expect even worse advertised bid / ask spreads because we have lost two market makers in the last few months (one through merger, one through UK market exit).

L2 action looking strong, think the big background buyer has finally rolled out of bed, had his coffee and switched on his laptop...

Well, didn't take long to get back into the £7's, hope many took advantage of the discount on offer yesterday. Next stop £8+ after company newsflow in the next few weeks and the GDX and ASX100 buying.

I see the green box is back, the only thing that's exhausting is his chat...

Looking at the chart I'd say the average copper price so far this quarter is around $5.70-$5.80 in USD, considerably above $5, so the picture should be even brighter.

Come on man... Look at the trades at the time, the bid / ask was not 53p / 55p at 12:44... it was 52p / 53p. The 100k buy at 53p took the spread up to 52p / 54p. Look at the daily chart and see the dip.

Look at the trades around the time, immediately preceding the trade we had an 8.6k sell at 52.61p at 12:38 and a 20k sell at 52.7p at 12:40. The bid ask spread then dropped from 52p / 54p to 52p / 53p and we had the 100k buy at 53p. Not sure where you get the 53p / 55p spread from, but please explain how someone is selling 100k at the ask price when the sells for lower volumes were 0.3p to 0.4p lower.

Ha, just after my last post I checked the delayed reported trades and we had buys of 100k, 125k and 200k. Well that theory was proven correct pretty quickly! More of this tomorrow please, that's serious money.

The article just mentions grain boundary diffusion in general rather than something more specific that might be covered by a Uni of Birmingham / other patent.

"The facility will implement specialized manufacturing processes, such as Grain Boundary Diffusion, to maintain high thermal stability while reducing reliance on heavy rare-earth elements."

Agree with Jimzi that the SP held up very well today, USAR is currently down 6%. We likely have someone accumulating at this level given how much I could dummy sell earlier and how strong the bid was, despite quite a few sells. The same was true yesterday.