Member Info for Legalwolf

Clearly, these new placing investors are not all that keen to hold onto their newly acquired cheap shares. They are available to buy below the placing price. Take as many as you want.

How is their readiness to let you have their cheap shares (more) indicative of a big move up, as opposed to another move down???

Going down again just before the bell. 0.234 to buy!

It's more a case of who is selling them so cheaply and why? It can't just be the 700k seller, because there are far far more than that that have gone today. It's like almost the entire new free float of the company is available at below the placing price. I mean these placees are clearly not holding onto their cheap shares by the looks of it, which begs the question why.

Is it something to do with the forward selling/shorting, with shares now going back? I don't know....

In the short term, this will turn on the assay results from Cottlesoe. Let's hope they back up the promising noises that have been made so far. Very good entry price for newbies in the new year.

You can buy as many as you like below the placing price. £100k worth if you wanted to. The question is, if this is the bottom, then why are SO MANY shares still being sold at this price and so easily available?

And is this action a pre-cursor to a big move up or a big move down?

I dunno - the fact that there's a plentiful supply of shares below the placing price is making me less confident that it's going to go up, and fear that this is a churn/distribution of placing shares prior to a move down. Otherwise what are the MM waiting for in order to release the brakes? Do they want to let them all go cheap and then have to buy them back at higher prices when they have to create the selling liquidity.

If so, very generous of them for once!

😂😂😂

Unfortunately, another coward who can't stand the heat, so filters and bails out. Let's think about this logically shall we.

Prior to this fund raise, the shares in issue were about 1 billion. I don't know if that was also the free float, but let's say it was. Now, a lot of LTH would have bailed out well before today and not waited for today to sell. Obviously, many would have done, so some of the selling today will have been existing holders.

But nearly 1.5 billion have been traded already and pretty much all below the placing price. How and why has this happened, and especially if there's a big move up coming if some of you are to be believed?

Genuine question?

Blanking me? Gosh 🤣

KR - why do you think so many cheap shares are available if it's about to go up?

As for the substance of your post, who do you say is selling all these shares under the placing price? It can't be existing holders...

Obz - don't get ahead of yourself mate. I really couldn't care less if you bin me. In fact, go ahead, be my guest and hit filter. Same goes for anyone else so inclined. I have no need for validation from a bunch of strangers, unlike others.

I will keep posting what I want, when I went, and if I feel like repeating points or mentioning the next placing, that is exactly what I will do. All the best!

Yes, I have no special insight or knowledge, and my guess/calls are as good or bad as anyone else's.

The MM seem eager to let so much stock go at below the placing price, which does make you wonder whether they are net short?

We will find out soon enough.

Holding any AIM share (or most shares) for that period of time is suicidal. You might as well light a bonfire with your money and watch it burn away that way.

Not going to pretend I understand it, but doesn't that suggest the placing shares are being traded already?

Also, why are so many shares available below the placing price? That wasn't meant to happen according to a number of predictions on here?

Poorinvestor - only minutes ago you were making out that you believed in the fundamentals and geology of Itumbula. We both know you will be out well before Itumbula results, which is actually sensible imo. Good luck with your trade.

To be clear, I think it's dead as a long term "investment" until or unless Itumbula results tell you otherwise. Therefore, I would not put BIG money into this now and look to hold a large position into results. That would be crazy risk taking and you might as well buy lottery tickets instead.

But as for whether there is a swing trade in this (over a shorter term horizon of X days/weeks), that is an all together different matter. There are always trades to be had on AIM and you can never rule them out. The market is often irrational and sentiment and fomo can and do arise in a flash. That is what AIM is mostly really all about. All imo and dyor

Yes maybe Chesh - not seen any printed trades come through at 0.2p, but the 5 min chart was showing at least two trades at that price.

You can buy £50k under the placing price still. And it's touched 0.2p.

Will it hold up at this bid/ask or retest that low. Seems to be holding up so far. But only half the cheap shares have been traded.

Yes keep me in the box, but whatever else wrong you do, don't ignore the share price. It has just touched 0.2p in the last few minutes. That's a new all time low. Seems like the falling knife is still falling. Now, is it because of back to back placings, or have people just lost interest in this dodgy dog? All imo and dyor