Member Info for JDwag

I doubt it’s a sell BTW.

Everything the last few days is being severely wrapped by the large order being filled through the single protected portfolio trade. To me those 1m ‘sells’ the last few days are buys at the discounted rate that a single protected portfolio trade allows. Now we have the multiple small ‘sells’ popping us surrounding the larger trade. Looks like an MM cluster£4c@ to get the trade through they want without letting the SP run wild.

JD

LIkewise, always interested to have someone else’s opinion here.

‘Strange’ is one word you could use here. Based on today’s antics I could think of others.

JD

Now will take 4m shares off me in one go without NT at 0.775p.

I’ve got an idea you robbing MM b@$?@rds why not start raising the price and maybe some will sell, actually bother to do your job and create a market?

JD

The amount they’ll take are going up and so is thecreal sell price. My spidey senses are tickling here lol.

JD

Taking a lot of shares off you no issues. They are wanted somewhere.

JD

That’s an excellent question…..Must say, I’ve never come across the ‘single protected transaction’ before. However, it does appear to give the MM the opportunity to fill an order of size while filling it with small tranches without affecting the SP. Where they get these shares in order to do this I have no idea? However, being AIM I just assume there is always a way to give the PI a good rimming without any real need for explanation!

JD

happening. Letting me sell 2m without NT. Something huge is getting filled in the background IMHO. ‘Single Protected Transaction’ is out there being filled by someone.

JD

Just added myself. Something is up here.

JD

So these are all going through as a ‘Single Protected Transaction’. Something is up here, what, I don’t know:

‘If reporting a single protected transaction. A protected transaction occurs when a large order is going through the market. The buyer (or seller) may wish to keep the order anonymous from the rest of the market as the size of the order could greatly alter the price of the stock. With a protected transaction the dealer will put the trade through in small quantities rather than knock the whole order out in one hit. The entire transaction is reported once the deal is completed. The LSE is notified at the start and at the end of the transaction, however, the market as a whole isn't told until the end, thus the order is protected.’

JD

Most of these above 0.80 look like buys? More weird goings ons.

JD

No, but the guys at the helm here is very entrepreneurial in nature, it would just be par course for him.

Not ideal, but considering two entities control a large percentage of the shares here they aren’t going to be wiped out so whatever has been agreed has been agreed with the consent of Shumba and Sanderson, you can bet on that.

JD

Well….Something is afoot IMHO. They have managed to ‘limp’ through over 7 months of 2019 with only £1,154,158 to spend (£654,158 cash as of end 2018 and £500k drawdown from Sanderson in March 2019) this is a very large reduction in cash burn on administration and exploration than previous years.

There has to be serious cash conservation going on to have managed that, when all transpires I imagine that the BoD’s pay may be currently not be being paid / may take their pay in shares.

If that is the case they can ‘limp’ on indefinitely until the SP improves / they get one of the deals through and then other funding opens up IMHO. Still no notice of AGM, either, it has to all be connected to future funding, doesn’t it?

JD

Gold looks to be moving in to an exciting period. A 1m+ Oz Resource could start to look very valuable.

JD

Rumour*

JD

Wouldn’t be surprised as brokers are in a terrible way. Fortunately, if true (it’s only a romper of course) we don’t have an outstanding placement, etc. underway so it wouldn’t be a massive issue and it’s only joint broker of course.

JD

I'm saying Yes.

JD

It's more annoying than anything else. It feels like the BoD have gone on sabbatical and have left the office junior to tweet news articles from three months ago lol.

JD

Blink twice if you're still alive fella.....or give us a great RNS instead.

JD

The AGM is an interesting one alright. It’s taken much longer than usual. They gave up to 15 months since the last AGM to have one. So acres of time to be fair and it could go to late October on that criteria as I understand the AGM Rules.

Hopefully, he is holding fire until they get good news out and can then get some positive fundraising motions put into the special motions part of the AGM. Of course it all hinges on having Shumba and Sanderson support to pass anything.

Considering the amount on the books at the last annual results and the £500k raised this year I’m surprised it’s last this long to be honest. I even wonder in the CEO And BoD are being paid at this point to make the cash go further?

JD

Fecking hope so, Bcl. It's a slog this. I'm hoping all my Positive Karma for holding this share will be stored up and released in one massive torrent in the Autumn / Winter 2019 period.

JD