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But why did they (correctly) delay the buy but incorrectly fail to delay the sell? And not much has come off the live bid, though they've dropped the ask a tad back to something a little bit less insane in the spread. Still spread far too wide but there is something in the tactics here, hide the buys and get the sells out there immediately.

MM are still dicking around here - still something left to work itself out but can't be long before it will be ready to move IMO. Market didn't give the new BOD much credit last year, were still treated like same old Stratmin. But now there is hardly any of the old company left, old asset sold, new project, new finance. Wondered whether the BOD might be wise to change the company name, finally shake the old idiots hell bent on screwing this into the floor and give a nice positive message to those who stayed?

Just dipped my toe back in on the news, one of those 100k buys is mine. Sure there's still some funding pain ahead, don't like the removal of pre-emption rights as signals being screwed on follow-up placings but at least this represents a future that doesn't involve filtering other people's soil or relying on water tables dropping and the mcap surely is currently less than the cost of plant owned??!

The secret so I'm told to that golden goose is to be in full control of both the on-site concentration and the refinement. Can make end-to-end quality and efficiency improvements. I'm thinking that's why Tirupati want in on this deal rather than source the intermediate product on open market. I see its hard to buy at this level. Looks like a fok went through above ask at 1.80p

Been told even that won't stop some brokers, they will take the risk - plus will have contracts with loaners to get the shares back in time for the delivery window. Was told the only sure way is to use a broker who guarantees not to loan to shorters or hold your LTH in certificated form, but then there's the cost of changing it back to trade it, inability to trade instantly and the risk you'll lose the certificate..!! Or get your own CREST account, but then that's a faff and you need your broker onside to sponsor you for the paperwork and agree to let you hold them in your own name.

I'll admit it's possible they could have closed by now - as GH pointed out yesterday in posts now removed there is no way to know for sure because unlike NASDAG and NYSE AIM does not keep a short register (which in itself is pretty fecking stupid in this day and age, PIs should have that transparency to stop them getting raped like I've been in the past on some shares)... So I would invest here in the potential but be aware that there could be forces in play that are holding this back, so don't get frustrated if it goes through a few iterations, false starts etc. This should rocket on tranche 2 IMO, that's the real news I'm hoping we will get this side of Christmas. Hoping.

Here's what happened on TEA - completely different set of circumstances but when it delisted I asked for my share certificates. When I got the certificate it showed the shares were bought 3 months after my last trade and a few months after it was suspended. Either my broker or whoever they bought them off sold them short. Why is that relevant? Tiny mcap minimum liquidity and looked for a while like plenty of upside potential but still it was being sold short. De-rampers a plenty who actually told me many times it was 'impossible' to short many microcap shares but still it was being sold short. CHAL - suspended. My broker got approached for an off-market trade whilst suspended. Who would be desparate to get hands on a suspended share but shorters. Exhibit 3: we'll call him Joe. Works in the city for a large investment bank we'll call Seaside Capital to protect the guilty. Joe told me 100%:certain this share was massively shorted down from 3p. Make of it what you want.

The spread is wide because it's being shorted IMO.

IMO it's being shorted - simple. De-rampers come here to argue against me every time I make this claim but yet what they keep pointing out is they think a placing is due. Personally I think we will hit tranche 2 and Brett will leverage that as he did with tranche 1. Organisational costs are at a minimum now with directors taking shares and other directors departed. JV will be cost effective because Tirupati have the expertise themselves to get the JV mine up without expensive consultants (who turned out to be a shower for the original Lohorano mine, all that expertise, eh?). I am surprised it hasn't gone already, but as I keep saying, presence of de-rampers - especially right before good news RNSs when the MM know the share will be due a rise - is for me proof enough this is being shorted, maybe even a revenge short from the MY era, who knows.

RTO is less about percentage thresholds and more about filing the correct paperwork and having it accepted by LSE and STGR shareholders. Also we have ownership of BSM that will increase when we hit tranche 2 - hopefully just months away looking at the bsm filed production figures up to july

I've been here every day since he took over with faith - allowed a little dig every now and then, nothing I wouldn't say to his face! All very good

HAHA got to laugh and apologies to Brett re my earlier RNS it was within a week - give or take a few hours. Good stuff.

Completely agree - and you know from previous posts I'm a fan of the BOD here - but I *really* wish they would stop putting things like "within the week" or "in the next 12 days" in RNSs. This just gives the MM carte blanche to pull shares back when the news takes a little longer. Posting this just so genuine investors are not scared by any more shakes. The MM often make contra-indicative moves at around the time they expect news, so they can take/clear their positions at a good price ahead of the move. GLAH

Directors taking shares at 2.5p is indeed a bold statement. They are sharing our pain, and their only significant reward from 18 months on the rollercoaster is going to be when the shares are worth more than they are today. It also, IMO, gives them more incentive to ensure the paperwork is properly in order to keep this listed, with the RTO or whatever they decide to do. No-one, not Tiruparti as a company, not Brett or Shishir, want to see this delist, which is why they will come up with a deal, either on the JV or with another project, to make this work. I increased my holding here when Brett took over - I just got a feeling for the man that he was out to make something of this company and the same message keeps on coming: he will get this company back on its feet. £8m deal for Lohorano was the consolation prize - we all wanted to see that mine working but the past company record made it impossible to fund the corrective action without drastic dilution. The JV though - that will be gold medal. Up and running with minimal fuss. With Mr Poddar at his side the BOD has the experience to navigate the funding, the engineering and the commercials. It will be done (IMO).

Buy limit is 15 shares - yes, that's right, you can only buy pence worth of stock within the indicative spread.

Maybe if you had a couple of pack of beans in front of you it would help. Green ones are the authorised real deal shares, the red beans represent the short beans. Make a pile in front of you, I can imagine you sat on the floor cross-legged like the schoolboy you come across as... Or I could just stop playing your childish games and have a paxman moment of my own. "When are you going to close your shorts, man?" "Answer the question".

OK, Paxman. Thanks for asking the big questions. Share doesn't need buyers if the shares are already bought. Just needs the shorters like you to close up and let the actual mcap shine through when the number of shares out there is something like the authorised sharecap.

I'm sure de-ramper #1 is thinking "Wouldn't it be nice if opinion didn't get in the way fact" ... Fact: 4-week high is 2.63p, not 2p. Question: now the balance sheet is in recovery what makes you think the next high will be less than the last? News due this week - guess we'll find out the answer to my question. GLAH / DTAS / DYOR

This RNS was a nice little filler whilst waiting for the main news due this week: From RNS 28/Sep/16: "Now that Vatomaina is funded, we will work with Tirupati to release a detailed project review and update for shareholders within the week"

Board taking equity as previously agreed at 2.5p / share - This BOD is taking equity at A PREMIUM. Doubters take note.