RE: All waiting for the innevitable post 3pm drop?8 Jan 2026 15:29
The 3:00 PM GMT drop you are seeing in Mkango Resources (MKA) is almost certainly a direct result of the Canadian Market Opening.
Because MKA is dually listed on the London AIM and the Toronto TSX Venture (TSX-V), the 2:30 PM–3:00 PM window is the daily "Moment of Truth." Here is the technical breakdown of what is pushing the price down right now:
1. The TSX-V "Arbitrage" Pressure
At 2:30 PM GMT, the Canadian exchange opens. Canadian traders look at the London price (currently around 43.5p–44p) and convert it into Canadian Dollars (CAD).
The Math: 44p is approximately $0.78 CAD.
The Problem: If the Canadian shares closed higher than that yesterday (e.g., at $0.83 CAD), Canadian sellers will "hit the bid" to lock in their gains before the Canadian price catches up to the London drop.
The Result: This selling in Toronto reflects back onto the London market. Market makers in London see the Canadian price falling and immediately lower the UK "Bid" price to protect themselves.
2. The "3:00 PM Liquidity Flush"
In North America, the first 30 minutes of trading (2:30–3:00 PM) are often "retail chaos." However, at 3:00 PM, the institutional "Algos" and professional traders in Toronto and New York start their main session.
If a Canadian fund has a large sell order to work through—especially ahead of that February 7th unlock we discussed—they often start "dumping" in earnest at 3:00 PM.
This repeated drop at precisely 3:00 PM suggests a Programmatic Sell Order (a computer script) that is instructed to sell a certain amount of shares every few minutes until a target volume is reached.
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