Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
The recent problem has been the amount of warrants taken up at discount to sp and sold on.
Never good for PI's but at least some more cash in the company bank.
Turn around programme in place so hold on for signs of recovery is my plan.
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.
Not being critical, just helpful, I hope.
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.
Yes it does explain where a good number of share sales have come from.
It had occurred to me that if someone was selling short then they would be
risking a lot at this sp imv.
Lets hope this selling has now abated.
Algos are used to "manage" market prices, usually to the advantage of the computer programme.
@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.
As I have stated before this is a share dominated by algorithm trading.
Take a look at LSE official site to see volume of algo trades.
Unfortunately until an institution [or someone] with deep pockets wants to become involved
to resolve this situation we are at the behest of a computer trading platform imv.
@Blue_square re RNS 30th June
"The loan will be secured by first ranking security over all the assets of the Company
and its material subsidiaries"
So on default Newgen would be able to dispose of assets for whatever it could realise to repay loan.
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.
@1invest I am with you re West Face. They acquired circa 8m shares at 14p from warrants.
Thus had £1.12m invested here. Even at present sp they are showing around 70% profit.
Bankers mentality would be to reduce risk even if the forward outlook is positive. To my mind
this is the reason for drift down in sp. Notwithstanding further sales, PI's like us have chance to
buy in to a great resource. As individual investors we have to decide what entry price is right.
Thanks for the info. Just confirms blatant price manipulation at force.
Of course, the banks are desperate to offload their paper gold derivatives prior to year end
cessation of LBMA contracts as per Basel3 regulations.
I guess the Central Banks of China/Russia etc would be happy to buy at present POG.
The reaction by gold price to US employment figures was exacerbated by the need for bullion
banks and others to bring down price to unwind paper gold sales as a result of Basel 3.
Stay focused on FED QE and inflation outlook in next 6 months as positive for gold.