Member Info for harrygasco

Here is why the selling of deleted companies does not neutralize the action on SSIT's order book:

​The Isolated Order Books

​When an index fund rebalances, it is effectively doing a capital swap: liquidating the company that was kicked out of the FTSE 250 and using that newly freed cash to buy SSIT.

​However, these transactions occur in completely separate, isolated environments.

​The massive selling pressure crashes down entirely on the deleted company's order book, often driving its price down as the funds dump inventory.

​The massive buying pressure hits SSIT's order book directly.

​Because they are distinct tickers, the sell orders for the deleted company cannot interact with the buy orders for SSIT. They do not cancel each other out on the exchange.

​The Search for Sellers

​Because the buying pressure is concentrated solely on SSIT, the tracker funds still have to find investors who actually hold SSIT shares and are willing to sell them right at the 16:30 BST bell. The people getting out of the deleted company's stock are irrelevant to this equation.

​This is exactly where the mechanics of a spike originate. If the active sellers who hold SSIT (like hedge funds or retail investors) remain stubborn and refuse to offer their shares at the current lower levels, the tracker algorithms have a mathematical problem. To fulfill their legal mandate to mirror the index, they must reach progressively higher up the order book, paying whatever premium is necessary to secure their required volume.

​Basket Trading Behind the Scenes

​It is true that massive asset managers often use "portfolio trading" or "basket trades." They hand their entire rebalance list to an investment bank and say, "Take our deleted stocks and give us the new stocks at the official closing price."

​Even in this scenario, the buying pressure does not disappear. The investment bank takes on the execution risk, but their trading desk still has to go directly into the LSE closing auction and physically buy those millions of SSIT shares to deliver to the fund. The volume always hits the public tape.

​The capital to buy SSIT comes from the deleted companies, but the volume strictly hits SSIT's order book. The afternoon squeeze is still very much in play.

I can't trade mine via ii app

Citadel have left the shorters list so only 2 left now.

That previous post should read Bains Capital.

Analysts think that the offers, if confirmed, are way too low, and a figure of 500p is closer to the estimated value of 1.4 billion.

The market thinks Bains Capital made a first bid of 390p per share which was rejected and that a second bid could be made. Nothing definite can be confirmed at this stage.

I like the part of the RNS that says they are in advanced discussions with other worldwide Exchanges. Great opportunity for future mega growth.

Good 2 page article by Bearbull who suggests 200p should be minimum takeout price.

Any thoughts on why this is not following the price of gold.

Has some lunatic just bought £16k today??

From Paul Hill

https://www.linkedin.com/posts/paul-hill-a5994116_eqls-eqls-eqls-activity-7107245039319142400-hYUm?utm_source=share&utm_medium=member_desktop

Thank you for your inquiry and bringing this to our attention.

The Record Date for shareholders entitlement to the 35p dividend, is 28th July, 6pm. (Tomorrow after close)

The ex-dividend date is guidance based on the agreed settlement when buying/selling shares.

For T+2 settlement those buying shares today would not be on the Register at the Record date and time, and therefore not entitled to the dividend.

If one were to agree a transaction on T+1, today then that would be different.

I appreciate the potential confusion raised regarding the noting of a 6pm time and whilst technically correct, the Company has released clarification.

Conflicting RNS announcements the one on 28th June says ex dividend 27th July and one on 24th July says ex dividend 6pm on 27th July. Seeing the price has dropped we must assume it is now ex dividend.

Many investors will no doubt be tempted to sell when it goes ex div but consider the following from their RNS 28th June.

The Board and management remain dedicated to driving an absolute return strategy on behalf of investors and following settlement of recent asset disposals and the receipt of conditional earn outs from prior asset sale arrangements, we are also proposing a further capital return of approximately £3.5 million to holders of New Ordinary Shares, further enhancing the value proposition for shareholders. Since 2017 the Company has eliminated debt and following this distribution, will have returned over £120 million to shareholders."

120 million returned to shareholders in 6 years is amazing.

Will they announce dividend amount tomorrow?

Lithium Americas Receives Favorable Ruling on Record of Decision for Thacker Pass

February 7, 2023 – Vancouver, Canada: Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) received a favorable ruling from the US District Court, District of Nevada (“Federal Court”) on February 6, 2023, for the appeal filed against the Bureau of Land Management (“BLM”) for the issuance of the Record of Decision (“ROD”) relating to the Company’s 100%-owned Thacker Pass project (“Thacker Pass” or the “Project”) located in Humboldt Country, Nevada. The Federal Court has declined to vacate the ROD for the mining Plan of Operations (the “Federal Permit”).

The favorable ruling by the Federal Court confirms the permitting process for Thacker Pass was conducted thoroughly and responsibly, and results in there being no impediment to commencing construction. The Federal Court ordered the BLM to consider one issue under the mining law relating to the area designated for waste storage and tailings and did not impose any restrictions expected to impact the construction timeline.

“We are pleased that the Federal Court has recognized the BLM’s decision to issue the Federal Permit, reflecting our considerable efforts to ensure Thacker Pass is developed responsibly and for the benefit of all stakeholders,” said Jonathan Evans, President and CEO. “The favorable ruling leaves in place the final regulatory approval needed in moving Thacker Pass into construction.”

The Federal Court rejected arguments that the Project will cause unnecessary and undue degradation to the local sage grouse population and habitat, groundwater aquifers and air quality; that the BLM failed to adequately assess the Project’s impacts on air quality, wildlife and groundwater; that the BLM failed to adequately consider the Project’s impacts to culturally or religiously significant areas; and that BLM acted unreasonably or in bad faith in identifying tribes for consultation before approving the Project.

The remand issued by Federal Court to the BLM is to determine whether the Company possesses adequate mining-claim rights to the lands over the area in which the waste storage and tailings are expected to be located, based on an appellate decision that was issued after the BLM issued its ROD for Thacker Pass. The Company intends to work closely with the BLM to complete the required follow-up.

ABOUT LITHIUM AMERICAS

Lithium Americas is focused on advancing lithium projects in Argentina and the United States to production. In Argentina, Caucharí-Olaroz is advancing towards first production and Pastos Grandes represents regional growth. In the U.S., Thacker Pass has received its ROD and is advancing towards construction. The Company trades on both the Toronto Stock Exchange and on the New York Stock Exchange, under the ticker symbol “LAC”.

For further information contact:
Investor Relations
Telephone: 778-656-5820
Email: ir@lithiumamericas.com
Website: ww

It looks as though Paddy is trying to drum up support for his short position.

Posted by Marcelo on Canadian website. PGM is PUR ticker there.

@marcello PGM's "Madsen" has difficult geology, which was one of the reasons the mine ceased production in late 1999.

When the management took over the mine in 2012(?) they SHOULD have been aware of this PROBLEM. Yet they sold it to us with a huge marketing machine as a high grade, multi-million ounce project.

If he is correct then buyers expecting financial help before 30 days are up are wasting their money.

Worthwhile having a look at what the Canadians think about Pur. CEO.ca with ticker PGM

Banker
If they get the money you should be ok but for the first time they are going to find it more difficult if they cannot get Anglo support.