Member Info for esduk

If you think about it we flew past 50p on macro developments without any company news, and most holders would never have expected to get up to 72.5p that quickly without it. As SG said, if you'd said at the start of this month that we'd be at 57p without any company news by mid month, most people would have been very happy with that. When the news comes, who knows where we get to.

With great potential reward comes great risk. I think most who are still around at these levels have the stomach for this by now, but that doesn't mean to say you can't get a little queasy sometimes.

Nothing to justify the drop from 59p to 57p just after 3pm (all those delayed reported trades are from the morning), but perhaps something will turn up on Monday. Or maybe it was just reflecting general resource share market jitters. Of course could also of just have been a drop to try and create some volume.

There'll be plenty posted later, normally around 6pm.

Big moves on L2, but all the trades are in the background, yet to be reported. A very jittery day today for shares / resource shares all round.

Now 61p on the bid (which is where it was at close yesterday), but with a 4p spread...

A bit of buying pressure in the background it seems, just one MM left on ask at 60p.

The 700k that day definitely looks like a sell as it is way below the bid at the time of the trade (unless it was a worked trade). Any number of combinations of those big trades could relate to the forward selling of the 1.2m warrants. All immaterial now anyway, but for me it's better that it was warrants than a large long term holder selling a large chunk of their position, although I'm sure some of those big sells may relate to large holders trimming positions / taking some profits.

I imagine that that 500k trade, which was posted after hours but at the closing mid price is more likely to be a sell than a buy based on yesterday's price action, but can't be sure either way as it was obviously worked (which you can tell by the time stamp being well after close).

If it was a sell then there's a good chance it was linked to the forward selling of 1.2m warrants.

I disagree with cristal's classification of the 1.05m trade at 71p the other day as being a sell / linked to the warrants. As explained at the time, we only had 1.1m traded above 71p that day (or in fact ever), plenty of which were sells themselves, which makes it very unlikely it was a sell.

You can quite easily get to 1.2m with the 500k from last night's trade and a few of the other big sells over the last few days.

I think we have a decent chance of ending the day even or up. Remember the actual mid price at close yesterday was 60.5p, with four MM's on the bid at 60p and one (Winterflood) on the ask at 61p. The UT at 62p distorted things, making the drop today look worse. Very happy with my top ups this morning.

Nice to see us recovering somewhat as expected.

By my calcs cristal we have 21.76m warrants outstanding. Broken down as follows:

14.86m outstanding of the original 25m issued at 7p

650k outstanding of the original 1.25m issued at 5p (broker warrants)

1.25m outstanding of the original 1,459,375 issued at 8p (broker warrants)

5m outstanding of the original 5m issued at 45p.

So taking aside the 45p ones, which aren't too far below current price, we have 16.76m outstanding. Which is less than 5% of our total shares in issue, so wouldn't have that big an impact even once they are all exercised.

The 58p’s are all buys obviously

At least that’s the RSI sorted for a good while!

Exactly, three small top ups for me at 58p in different accounts. This is when I laugh about people telling me that MM’s don’t try and play PI’s like a fiddle. They use harmless information to create fear by a massive drop in the bid, create panicked selling, fill buy orders or square their book at a profit having been short.

58/59p open, wow that is quite the mark down for the issue of 1.2 warrants (0.33% of the company’s total shares), which have no doubt already been forward sold. Tells me the MM’s are looking to collect shares lower.

Violindog, I’m pretty certain that these were forward sold so will have no impact on the SP going forward as the related selling has already been absorbed.

Yeh we did say that it could be warrants being forward sold the other day. Great news from my perspective with another 1.2m of the 5p warrants now gone forever. MM’s look to be trying to mark her down on open on this news (which shows you what they are all about) with one on the ask at 59p, if so I will be taking advantage.

98k of it got filled with a UT at 62p.

Nearly 120k on the bid at 62p.

Cotec too, might top up there as well.

Pull backs on big rises are very normal. SP all over the place this afternoon. With our higher market cap it seems we have also had a big increase in volatility. Again, seems to be driven by unreported trades rather than anything we can see.