Re Systematic Internaliser. I retired from Financial Services in 2008 so I was not familiar with this trade identifier. However, I understand SI's are Institutions authorised to match buy/sell client orders internally. So the trade by-passes the MM but still has to be publicly recorded. Hope that is correct.
@Nostra if you go on to London Stock Exchange site and search under quotes, news, documents, by entering ticker PAF you will find company details and list of deals for the day. Under "trade flag" algo deals are clearly identified as such.
I am certainly not dreaming! To give one example [where I also hold] Atalaya [ATYM] a copper mine mcap £400m+ with no algo trading whatsoever.
Result, lower turnover and more stable sp. Algo trades are computer generated to make a profit for the operator and to influence market moves. We will have to differ on whether this assists PAF holders or not.
Well, just taking the last 50 trades as listed on LSE official site over 30 were Algo trades.
I think over 60% of trades as automated is unusual for a stock with £300m mcap.
Such Algo volume is often seen temporarily on large caps e.g VOD or GSK but not on small mining stocks. These trades, if over 50% of total, would clearly add to volatility imv and may be against pi's interests, which should be to have a reasonably stable and reliable market sp.
Judging by the official LSE list of trades the Algo trading programme since 10.26 has been buying and selling to itself! I am happy to hold here with 4%+ yield and positive gold price outlook for 2021.
@Blue_square yes, my apologies, Lekka is quite right.
I was thinking back to my own experience [as a creditor] when the liquidator sold assets to the main creditor within 48hrs at a knock down price, only to find that this creditor shortly after sold them on for a substantial profit. But it was the liquidator not the secured creditor selling initially.
Nevertheless in the case of Newgen they will be taking all assets RMM own as security.
Well, Basel 3 will be finally effective end Dec and LBMA paper gold derivatives no longer able to manipulate market. Only physical gold contracts from thereon. Keep positive and look forward to a better 2021 for POG. PAF must surely rerate -- as long as political stability in SA is maintained.