Member Info for Ivornomoney

Mazza this is still a big gamble, the ECO report says there is a 40% chance of them finding oil.

Read up on the Exxon drilling recently.

A short squeeze occurs when a stock or other asset jumps sharply higher, forcing traders who had bet that its price would fall, to buy it in order to forestall even greater losses. Their scramble to buy only adds to the upward pressure on the stock's price.

I've only got the basic Level 2 but I've said for ages the share price is being worked by the market makers. Someone on Advfn said Cana has been buying 15m and trading them, that's why we get a load of selling and the share price doesn't move, then it rises quickly.

Why do you think that?

Tony this will be going to 60p so you better fill your boots now, it won't be going any lower.

I'm guessing they are talking g about Orion Mine Finance tho now I thought about it.

The problem with Teck waiting for stage one to complete is it doesn't stop someone else making from making an all cash offer for the company.

Maybe that's why JM is now saying H1 and they are working on a deal.

I do expect them to pay a premium but they still can't own more than 30% or they will have to make an offer for the company under AIM rules.

If Teck are the cornerstone investor then they can't issue more than about 215m shares as this would take them to 30% and they would have to make an offer for the company and I don't think JM wants anyone party taking control of the company.

I'm guessing they won't need to issue more than 250m shares based on the figures so far.

Peter Mann £900k average £0.75

Mark Osborne £450k average £0.75

100% fact.

Wasa, have you done any calculations based on percentages of money already raised against percentages of shares in issue?

Slowing down here, looks like its heading back to £1.20.

The market makers thought this was good news.

04-Dec-2008:00:10 7.4999 5,000 buy.

I think Orion will at the very least double their position here.

We could end up with no dilution here, I think that's JM aim. Great for share holders if that happens.

I think hzm going into production holds the best value for share holders. Stage 1&2 have got to be worth 60p Wasa ;-)

Highlights

· Contracts awarded for Araguaia Powerline to leading Brazilian consultants including:

o SM&A Servicos Eletricos responsible for the design engineering for the 230kV transmission line to provide electricity for all operations required for life of mine;

o Brandt Meio Ambiente to prepare the installation environmental permits; and

o Geoid Laser Mapping for the topographic aerial laser survey of the powerline route and detailed positioning of pylon locations;

· Araguaia Feasibility Study (FS) remains on schedule for delivery mid-year.

How much do you think the company is worth if it was sold Baggy?

If anything other than stage 1 Araguaia was announced I think the shares would be suspended.