RE: Why has the chirping stopped?21 Jan 2026 09:44
They have no money and unless there is a contract win announced immediately they will be forced to raise down here. 15bn shs at 0.04 raises £600k @0.03 raises just £450k before costs. It kicks the can down the road by a couple of months.
With regards to TR1 the price action and volume suggests the buying is done. So any ticket would have been booked and the TR1 lodged.
Another take is that a mm knows the placement is coming. We all know , DL has told us. It’s just a question of price.
In this situation a mm or broker might go out and try to create volume. Churn. Make it look like something’s going on. There are substantial fees to be earned for these type of corporate actions so a broker or market maker may choose to create volume, even at a small loss, to give the impression that something is happening and to encourage buyers into the market. It is an accepted practice. It’s a manual version of what the algos do in big board stocks