Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Roddy1981
Fund managers are in a very privileged position and private investors hang on their every word, particularly a tiny share like Cyan that doesn't really get commented on by anyone.
Of course, as far as I'm concerned, fund managers can buy and sell whatever shares they like at whatever time they decide to.
What I don't think is correct is for a fund manager to talk up a share in his portfolio first thing in the morning knowing that he would be selling later the same day and continue to sell, as far as we know.
I have said everything that I want to say on this matter now. If, as you say, 'Mr Tremendously Upbeat About Cyan' has done nothing wrong, everything is tickety-boo.
Hi tonyj
As PI's, we all know that we a vulnerable to the behaviour of the bigger players but, IMO, Mr (tremendously upbeat about Cyan) Williams was bang out of order saying what he said, while simultaneously selling and positioning himself to sell more on the quiet.
I'm tempted to report this 29/11/2023 video and RNS to the Financial Conduct Authority (FCA) because, to me, there's something not right about it.
Hi tonyj
They didn't earn a single penny in the UK in Y/E 31/03/2022 (see page 69 of the accounts).
If they started doing something in the UK, there would certainly be additional labour costs involved.
As they haven't worked out how to make a profit yet, I'd prefer them not to take on even more loss making work.
John (Investing in Growth) Cronin has said very recently that Cyan is 100% focused on the opportunity in India. Cyan hasn't got the spare capacity to assist in the UK too, unless they do another fundraise and start hiring in numbers again.
Interims this week? No chance.
Obviously, he's dropped to 10.99p so that he can now sell 2.96M shares without having to notify the 'market'. Gough can do similarly i.e dump about 2.5M shares on the 'market' without telling anyone.
All they need are some mugs (PIs) to buy them.
No doubt we'll have a bit of news soon (before the interims) to help them get out. Probably all part of the 'package'.
"Tremendously upbeat " maybe but not so upbeat to stop himself from selling or buying on the open 'market'.
A total disregard for PI's.
IMO, it's little wonder that, regardless of how many orders were received, the SP kept going down. It was because of these 'C's' in the background selling millions, knowing that the BoD would be back to them (cap in hand) and they could get an even bigger slice of the pie for less.
It's really insulting of him to be sat there talking up Cyan and selling at exactly the same time. I'm selling my Miton first thing Monday.
It's a grubby business - the sooner I'm out of it completely, the better.
My guess is that Miton were selling some (a few million) of their Cyan shares between August and October, forcing the price down from 17.5p to 8.5p. They then bought them back for 8.75p'ish and also took advantage of the fundraise at the ridiculously low price of 10p - thanks mainly to their original selling.
They've got the 10M shares fixed @ 15p in the bag via the warrants that came with the fundraise and fancy having their £1M cash back for the 10M shares @ 10p
I'm expecting more Miton RNS's but live in hope that he finds himself locked in too.
Hi CB
Thanks, that's brilliant!
When the presenter starts talking about Cyan, you can see Mr Williams focusing on his keyboard or something lower down his screen. Perhaps he was busily setting up his 'sell' instruction for when the market opens, as he's telling everyone watching that they (MITON) are "tremendously upbeat" about Cyan.
IMO, it would be a good idea for Mr Williams to do another interview with Directors' Talk to explain why he buys shares for 10p and sells them a few days later for 9.75p.
IMO, it's not just these 200,000 shares, there are millions more to come.
Don't make it easy for him to get his £M's back and then use those £M's to have a free run at the 15p warrants; let him find out what those £M's are worth after the interims land - not a lot is my guess. Let the MINI shareholders feel some of the pain too.
O/T - Tomorrow afternoon could be a tough watch.
Cheers
ITT
We'll have another RNS from Mr Williams as soon as he's dumped another 3M shares but only if he can find enough mugs to buy the things.
Don't let him off. Let him be holding his 32M shares when the awful interims land and then see where the SP settles.
My guess is Miton don't want to be left holding 14% of this junk stock and that they'd love to offload the millions that they bought at 10p at the earliest opportunity. Unfortunately, there's currently a shortage of mugs.
No doubt there'll be plenty of non-profitable contract news eventually released by JC to help them get out but it might not work. I'd love it if the SP is still sub-15p in 18 months time.
Hi tonyj
Now that this lot have helped themselves to a huge number of shares, if the SP ever gets back to 17p-18p, we'll be back to the same place i.e. £57M market cap.
Some people were clever enough to get their £1M out at 28.3p - that's great foresight.