Member Info for FreeTheCaterham7

What is an off market investment? Do you mean something like a BiG Pharma taking a stake?

Somebody was very keen to get hold of stock well above the market level in the closing auction. Decent size too.

" investors are probably hoping that Horizonte Minerals finds some valuable resources, before it runs out of money."
It’s not obvious that this "article" is terribly accurate.

It should be obvious from my post that I'm aware of that, and that to expect it is a mistake.

Muppet.

I really hope people aren't expecting anything exciting from the AGM, or for some good news to be arranged to be issued before it.

"Could this be a continuation of poly topping up?"

Could be, but I'd guess not. I don't think Poly needs or wants to pay higher than their recent levels. If there is a new Insti getting involved I think that would be encouraging

Indeedy. The focus on production levels on here misses the equally important question of costs.

Holding recent modest gains so far. I don’t think Polygon want/need to push it higher...I wonder if there is a new buyer(s) getting involved.

"With a very narrow spread my interpretation is the MM's want sells"

Isn't this one order driven? Can't see L2 but a buddy in the business said it was

Also interesting to see HL and AJB adopting REX....maybe there is some value in that

"Only 8 trading days until the AGM..... Marsden needs to save his job
with something substantial.......!!"

Are you expecting something major at the AGM? It would be unusual.

Also, if SNG are indeed working on something substantial, I don't want them rushing it so they can get something out at the AGM. Get the best deal you can, ignore the optics of the timing

"In old money someone has Bought 5,816,000 shares and the SP has done ??? Unbelievable …."
It just means that someone else has sold more.

"they find the best way to obtain shares is by dropping the price."
Sorry Taufour, this is not right

Thanks HSD

"25% is an influential position vis a vis special resolutions"

Indeed, it's enough to block special resolutions, which require a 75% supermajority. Special resolutions are usually fundamental but dull, things like changing the company name, or changing the articles of association.

However, it might be that a company could introduce a resolution allowing them to waive pre-emption rights on issuance of new stock as special business. I wonder how a holder of 25%+ would respond to a resolution like that.

And they seem to have prioritised price over haste in adding to their stake

25% isn’t a controlling position though.

Buying shares faster means paying more. Maybe they think they can take their time building their stake

Given the price action we have to assume that any buys have been matched by sales. Still, good to see larger players getting involved

I can see a situation where an interested Pharma might make a bid after sounding out Polygon and getting their agreement. I don’t see them getting Poly to buy it first and then buying it off them. I think takeover panel would have something to say about that. They’d see Pharma as the ultimate bidder, and they have to treat all shareholders alike. If they pay Polygon a premium they aren’t doing that, and if they don’t pay a premium what’s in it for Polygon?

I don’t see anyone bidding without getting acceptance from Poly first. Pretty hard to get over 50% if one 30% or so holder rejects your bid.