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Parkez you would sell shares because firstly you need the funds to exercise your warrants, secondly you would want to secure some profit. Thirdly is about risk management and over exposure, if your a professional investor no matter how much of a sure bet something looks your not going to be a rookie and over expose yourself. The likely holders those shares are professional investors so they will have a strategy to maximise profit whilst keeping exposure low. It's good business.
40k buy, again that ain't punt money
Parkez I dont think understand what solstace is saying. Those shares are indeed in issue, however with such a sharp rise and the risk now of the holders of those shares having to stump up a considerable amount of warrants the majority of those placing shares that came into issue are probably being 'churn' or sold in simple to terms to suppress the share price order to firstly avoid the accelerator clause being trigger before they have funds to exercise there warrants and secondly in order to raise the funds by selling their placing shares in order to exercise said warrants. They are at a 500% profit but now stuck in a catch 22 where slowly selling through their placing shares to maximise there profit means they will me taking money of the table and giving themselves funds to exercise their warrants. In essence they are maximising there profit and taking cautious risk management not either crash the sp or trigger the warrants early and over expose themselves or lose them. It's not hard to work out by the process action and the convinent way sells keep equally matching buys.
Unless you know personally who took up the placing and whether they are willing to tell you then no
I think the people who took up the placing @0.35 have been a bit caught out. Even in aim I doubt that they expected in such a short space of time they would be knocking on the door of 2p and having to think about stumping up a lot more money then before or lose there warrants. I expect they were hoping for best a 100 - 200% return in the distant future probably thinking they will take up some off the warrants if beneficial and let the rest expire. Now the unexpected has happened and they are back footed so they are carefully managing selling what they have at the best value so that they can exercise the warrants and maximize their return. They are taking the sensible approaching and not rushing it, but just putting enough selling pressure on not to force their hand with the accelerator clause being trigged. It's so clear to see and a sensible approach by those investors.
Not for the 100 mil shares that are held from the last placing @0.35 plenty of shares with a big profit. They are slowly selling so they dont destroy the sp, carefully banking the profits in anticipation to eventually being forced to exercise the warrants they hold or lose them. Although they are holding us here they are doing it sensibly and not just relentlessly dumping, tells me they see the value here aswell.
First post on rock but MP0818 nice one fella
A gift is presenting its self this morning. I think it would have been better news tomorrow after the GE, I expect big investors are being cautious with their portfolios this week.
Of course they can dryland dripping in sells from over 100 mil shares they have from the last placing. If those who hold them are in cahoots would be easy to manipulate, seen it before.
Some warrants exercised a day keeps a placing away ;) the way I see it is the warrants are keeping us at this level but strengthening it as a strong base, I'll happily take that as a way to get funds rather then a placing which would panic the unresearched and drop the price through panic selling.
I still think you will have an effort by the warrant holders to keep this under 2p reason why is because if the accelerator clause comes into play they cant exercise their warrants in a control way it will be you have 14 days to find the money or lose them, i reckon that's why they have tried so hard to keep it down as that's a lot of money to stump up.
Hopefully it is warrants as we said yesterday the company has been running drills like this in 200k, imagine what they can do with for £1mil of warrants.
Just on pure speculation of what could be unearthed here this should be 3x higher mcap then it currently is. Strong board, safe jurisdiction, surrounded by working mines and infrastructure, an invested board maximising value for money lead by a passionate geologist sitting on potentially world class gold and COPPER resources. For 11mil ncap, defies believe.
Still believe we are only at the very start of this story. Hope to see some more warrants exercised today on the back of this news giving us some more money for the next round of drills, driving us strongly into next year
Not forgetting two big copper plays...
I believe he did get back in so should have recouped some of his losses, never nice to see genuine people on here lose money. Most of us are the same, PI's aiming for some luck to make life a bit better.
Never say never, however does feel like this is being held back. Still 150k in the bank for today to help push on with some more exploration is a positive and it seems a nice stable base has been established around this level. Patience is just needed now, if you believe in the fundermentals sit back and relax and wait.
Some nice buys this afternoon, that's not just punt money.
Looks like it wants to stretch its legs a bit
It will move eventually, main thing it is stable and holding. More news due anytime, a cash injection today without a placing, sees a step towards more drilling. What's not to like, its being managed well. Patience is needed, that's when you know your invested and not just trading.