Member Info for Jambo813

That set me thinking.
What’s for lunch tomorrow!

I agree that the potential of what is in the ground has to somehow valued at a price acceptable to both sides. Given there are / were multiple interests then I expect there may be different propositions also on the table ie JV, offers for parts of assets or full buy out.
Pretty complicated on all aspects eh!
That is the reason we have had no news on a conclusion so just sit tight.
I also think all parties are still in the game as if any dropped out, non disclosure or not, there would be a few in the know about the true sale value and would be tempted to at least curry favour with tip offs to others.
Expect this to drag on for good reason.

Agree CTC, I have always said a lot of work is involved during this period to finalise a deal . There will not be an update just a statement to say the deal is done. All over in a minute.

20 range is an absolute bargain and the only impatience I have is with a punt on EUA and when their sale goes through, like a few others on there I will be buying more GGP. Just hope it concludes before NC finishes all their drilling .

If everyone seemed happy with the broker valuation yesterday which they seemed to, then add a touch of realism based on what has been found to date(officially) today’s price given timelines is about right.
The sp IMO will move as more Oz are declared over the next few quarters.

@JTMAC
Forward selling ( by the MM ) is not necessary them going short. Forward selling is usually applied to selling with a longer period between trade date and standard settlement date for the respective market. Forward selling is common when warrants are being converted to ordinary shares. Common assumption is when the RNS states converted shares will be listed on a future date is they cannot be sold until that date.
Wrong because a trade can be created in advance by the company broker to deliver the shares to the holder of the
( converted wts) so even if the shareholders had no current position, the fact they have in effect a forward date buy ( the conversion delivery ) on their trading account means they can instruct a sale, just as long as the settlement date if the sale is agreed to be no earlier than the conversion delivery.
If the MM borrows stock to settle the MMs sale they need to put up collateral against the value of the stock they borrowed plus a margin. Collateral can be cash and or stock ( from a long position in another stock ). The short position by itself is treated as cash positive just as the long position is cash negative.
Once you start to look at the collateral side then it gets more complicated.
For example in the UK Euroclear ( CREST ) clearing system divisions of big banks including MMs can use collateral trade types DBV ( delivery by values ). These are cash only trades which one side will pay the other cash ( usually tens or £ hundreds of millions). The trade is unwound automatically the next day at a slightly higher value to reflect the one night loan. Interest on the loan is defined by the class of shares put up as collateral. Ie FTSE 100
The DBV trade in itself when matched up in Crest can list up to 100 stocks that are automatically allocated to the trade as the collateral.
Re the question on MMS trading with each other, that is pretty difficult to determine and usually takes place in the auctions.

Ex MM and they do hold stock. Depends on what their risk managers allow them and don’t forget they get charged interest to the trading book as the cost to the company for the capital they are using up. Credited interest when they are borrowing to meet buy orders and going temporarily short.

Good idea let’s scrap the RNS dates competition and replace with a Month and Year
Lol

Costs depend on the grade and how long a supply can be made and the subsequent length a contract can be made with the plant. Pretty sure these factors will drive the cost down when it comes to the crunch.

I really believe the rise today is down to one reason and it is because it is the eve of the last trading day of the month.
Those non binding offers most likely have a close date and why not end February to at least flush out any bidder that may drop out.
Pretty sure that may have been the reason for the bulk of today’s buys and more sure the MMs would have anticipated this and happy to fuel expectations by raising the sp creating some volumes and usual profit.
Same again tomorrow and they , like us have no clue if the RNS will land by Monday or not.
Would be nice though.

Happy enough if NC do not feel the need to give actual cobalt figures, just as so long they include the value when it matters.

I also hold GGP so that’s why I would not have got their email.

Have you ever bought a house ?

Could still be jumping again up to 18:00 hours

When it happens it will be all over. Time to move on

Nothing wrong with conjecture even if it comes in fancy wrapping, that’s entertainment and food for thought and debate.
Only act on formal news as then no one else to blame if you get actions wrong.

Everyonesawinner
That is a hard question to answer. Today for example there was nearly 10m shares purchased than there was sold.
Based on just today , the question should be where are the shares coming from to satisfy settlement of the excess 10m buys.
Hydro and I gave 2 examples of where they may have come from but that leaves 2 other possibilities.
One being the MMs already were holding a stockpile of shares on their book ( they do after all act as a warehouse ).
The last possibility is they have temporary shorted today ie, borrowed enough shares on the back of good news RNS to meet buyer demand as seen in the little rise in SP. If this last one was correct then the SP will retrace back by end of week as they collect to balance the book and P&L moves from unrealised to realised profit.

I hope its not a dark pool the MMs are sourcing shares to meet the buys as must then mean there are some large holdings being sold down by institutions.
It would be better if we get news soon the last warrants have more or less been converted as MMs IMO usually take a fair chunk of shares issued in placings.

Floater, in the short term the MMS have form in taking the SP down on good news so unless at least positive as in great results from Scally. They will most certainly use it against us.

Furthermore, the board were under no obligation to give that last progress update despite the SP movement on the back of ‘ that sale’,
If things were not progressing as they stated and there was one ounce of a chance a good deal or sale was not on the cards, does anyone seriously believe we would have got that update and the board would have one hell of a job to explain what went wrong. No!