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TLY closed Up 9.3% at7.60p on volume of 2 million and Number 23 on the Leaderboard. Let’s hope this is the start of a recovery from the ridiculous lows we have seen recently. This share has 9 institutional shareholders who account for 46% of the shares. They clearly had high expectations and can’t be at all happy with the share price collapse in recent months. The number of shares on loan suggest that shorting has been a major contributing factor and that probably explains the concerted deramping campaign we have seen on the bb’s. If the share price can’t be restored to previous levels it may attract a bid at these levels.

Now Up 38.9% from 37 trades and volume of 65 million. Number 2 on the Leaderboard.

Spoke too soon some more AT trades just appeared for 1 and 3 shares as well as 32000.

Volume is lower at 192000 after 2 hours of trading. Just 15 trades of which only 2 are AT trades of 4000 and 900 both at 13.62. But because CHAR is always priced to the last AT trade that is the current stated sp.

Now up 33% on volume of 41 million.

Jim Mellon has stuck with CNR for more than 12 years and has essentially bankrolled it ending up the largest shareholder for some time and now with 23%. Jim has put his money where his mouth is and we should all be grateful because without his money CNR probably would not have survived. I certainly don’t agree with everything Jim Mellon does in all his many companies. He has been a Director here for 8 years and more recently Chairman as well. His reputation is on the line with CNR and I believe, even if it’s largely for his own benefit, he will ensure CNR delivers a very good return for all shareholders.

I was encouraged by this comment this morning from the CEO of the world’s largest gold miner:

“ Newmont flags gold's rise The price of gold could soon soar to all-time records if the Middle East strife worsens, the head of the world's biggest gold miner has said as investors flock to the safety of the metal.- PAGE 10 Of today’s FT”

Jim Mellon is a gold bull and is on record predicting gold going significantly above 2000 and if memory serves he has not ruled out 3000.

We also heard Mark talk today about the work of 2 geologists which makes a strong case that Condor could have 12 million ozs of gold which just needs extensive drilling to prove it up, which CNR can’t currently afford to do, but would be no problem for a larger company.

These factors are clearly part of Condors sales pitch and a major reason for Jim not to settle for a low price. Jim is clearly willing to fund this until he gets his price and that will be a good price for all shareholders.

As was stated from the start of this sales process the sp does not have any connection to the true value of the assets hence the asset sale. But once the bidding war starts it will probably revert to a share sale and the sp will be multiples of 16p.

Good summary Dalester also:

In addition to the Middle Eastern company they are still talking to TSX and Chinese companies

They meet with the Government to keep them up with the sales process. Technically the project has started and the Mining Minister is very much onside.

The current market cap is US$40 million whereas the NPV they have set out for buyers is US$ 400 million.

Once they get a firm offer they believe others will go higher

No timelines on the advice of Condors Investment Bank as it would be harmful to the sales process ( I have commented on these bb’s before when posters are demanding timelines that they are unhelpful because you can’t control them. Essentially you can’t give a running commentary on negotiations with various parties because it is commercially sensitive and you become a hostage to fortune.)

I’ve found it!

Is there a link to the presentation?

I suspect he is focusing on technical merits because he isn’t allowed to update directly on the bid process, but wants to talk to shareholders. We will have to read between the lines.

Do you have details of how we can access the interview with Mark and the time in UK.

Newmont flags gold's rise The price of gold could soon soar to all-time records if the Middle East strife worsens, the head of the world's biggest gold miner has said as investors flock to the safety of the metal.- PAGE 10

From the half yearly report in June:

“ The Company currently holds 11,951,500 shares in Guild Esports plc and 62,500 shares in East Side Games Group Inc. These investments currently have a combined value of approximately £93,762.

Guild is now Up 33% at 0.835 making 11.5 million shares worth £96000.

I am not suggesting that this has been a good investment, far from it, but we are where we are. The recent move from 0.5 to today is reducing the loss and we can cash it in easily as it’s listed.

Whilst it is now a very small investment it is pleasing to note that Guild has had a decent run in the last few days and is Up another 16% today. Our 11.5 million shares at 0.72 are worth £86000 if we need some small change!

The most likely explanation would be that a large order has been placed and they are prepared to pay circa 14p. The mm’s are manipulating the sp with the small AT trades to enable them to gather shares at the price the buyer is prepared to pay. When the order has been filled and the manipulation stops you would expect the sp to move up quite quickly as normal market forces return.

No but it looks like the sp is being held at this level using these small AT trades presumably because someone is keen to accumulate at this 14p level. This week so far 11 million shares have been traded with very little movement in the closing sp which seems strange following Tuesday’s RNS.

We saw increased activity recently taking the volume to 1.75 million including some large O trades as well as large AT trades. It’s a pity we don’t have any city professionals on here who could provide an explanation.

Some larger AT and O trades going through now as we return to 14p.

A couple of O trade buys have just gone through and I can get a live buy for 50000 at 13.9974p. Available stock is clearly tight.

Meanwhile back in the real world normal service continues with the small AT trades. For the last 15 minutes I haven’t been able to get a live quote for 50000 or 25000 but they will take a 50000 sell.