Member Info for FreeTheCaterham7

Very bold

"It makes sense that sng have not seen the results yet as otherwise they would not have approved the share purchase of the PDMR's spouse"

I think the RNS implied that they became aware of it after the event.

As someone else commented, as a connected person rather than an actual PDMR, Thomas Clarke was not obliged to get permission. I was surprised to learn that, but I had wrongly extrapolated my own experience from the securities industry, which was that my spouse was required to get clearance before dealing.

"Trying to hide it"

How the furry heck, exactly, would they hide it?

Tatty, do you have any evidence for any of that?

I very much doubt if permission to deal was sought or granted.

"I would suggest Synairgen would wait the 30 days before news release."

It would be an actionable outrage if SNG disadvantaged shareholders to try to protect Clarke, but actually if he has dealt when he shouldn't, waiting 30 days or however long won't make any difference.

"Why would a spouse buy shares now?"
- because they have got a hint, directly or indirectly, that trial results look good.

"Could be seen as an attempt to prevent share price fall"
- I don’t think so. Ultimately share price will be determined by trial results. A single modest purchase might (and, IIRC, did) provide a short term sentiment boost, but wouldn’t do much longer term

Why just 16000?
- because he couldn’t stop himself having a little punt. Open to correction on this but I believe that directors (and their spouse) require approval to buy or sell shares. There is no way approval would have been given to buy stock at such a sensitive time. The wording of the RNS sounds a tiny bit surprised - "[SNG] announces that it was notified on 27 January 2022 that the spouse of Brooke Clarke, Senior Vice President, Head of Communications and PDMR, HAD purchased 8,520 ordinary shares of 1 pence each in the Company ("Ordinary Shares") at an average price of 189.717p." It’s worded to indicate that the company only found out after the event.

My guess at sequence of events is….
Thomas Clarke gets hint, from Brooke or elsewhere, that trial results look good.
TC thinks, oooh I’ll have some of that, and has a punt
BC finds out.
BC goes mental at idiot husband for buying stock at sensitive time without approval, putting her job at risk
BC notifies company.
Company puts out RNS worded to indicate no approval was given.

Either way, a director’s spouse buying stock while we are waiting for trial results looks to me to be so dodgy that I think he would only have made such a misjudgement if he had good reason to anticipate a positive trial outcome.

"Maybe the tick up is due to a Trendline that has been in place for two years"

Trendline schmendline

"something more sinister to genuinely create a momentary bit of panic so that a buyer can snap up some cheap"

Excellent analysis

The headline seems to confuse NPV and share price

Genius

Hoots aye

I think he made it up.

I don't speak Portugese....but is Vermelho Portugese for red? Like Vermillion?

I don’t really see why negotiations with a JV partner/bidder or whoever would preclude operational updates.

Yeah I think PickedP is right, business as usual until it officially isn’t.
I think that whatever the incoming interest, it’s not up to HZM board if they sell out , but up to the shareholders. I think that so soon after the finance deal it’s unlikely that La Mancha and Orion, who control 35% between them, would take the money.
Unless the bid was at a ludicrous level, of course.

I fear that the correct answer is that nothing has happened that the company considers newsworthy.
I would be very surprised if, post fund raise, there is any kind of bid approach this year, or even before the mine is built.

"That last purchase by the director's spouse also meant we would be waiting a couple of weeks as a purchase so close to results being issued would be looked at closely"
If Clarke’s husband has been a dick and bought stock when he shouldn’t have, I’d be surprised and disappointed if the company delayed an announcement in order to protect him

" In fact, I would say 99% of investors have an emotional attachment to their investment. That shouldn’t stop you being objective and making reasoned decisions "

Being emotionally invested by definition reduces your ability to make reasoned decisions. Otherwise it's just investment. Semantics I know but that's how it seems to me

Yes, that’s exactly what I’m saying.