Member Info for lootgaloot

Not one, not two, but three institutional holders now selling up.

Neal Reynolds, Chief Financial Officer leaving the company almost as soon as he joined.

IRH dragging their heels on due diligence, what are they concerned about?

Any one of these issues are a cause for concern but happening all together in a matter of a few months?

Now add in yet more operational issues, the macro economic effects of commodity prices, weak Chinese economy, Trump protectionist policies.

Just glad I dumped these earlier this month at 4.75p when other posters told me I was crazy to be selling at the bottom.

"Many times I have brought or sold shares where the mm has declined the buy or sell."

It's pretty tiresome when you don't even know the difference between a MM and their own broker. Oh well, I'll leave you to your ignorance. Pretty easy to google for anyone who wants to learn.

@Jonah, I agree, impossible to know how many shares are being held by MM but it could be significant.

Yes they are 'forced' to buy. They are free to lower the offer if they wish but once they set an offer price they are obliged to but at that price. Marketmaker is generally a profitable business as they make their money on the difference between offer and bid price but its not a free lunch. They are obliged to make a market and that entails risk. I'm not surprised so much nonsense is spoken about marketmakers on these boards as most poster seem unwilling to spend just a few minutes reading up on the basics. Anyway, regarding JLP, it is very likely that MMs are holding a lot of stock atm. Not the whole 30 million but enough to put a lid on future price rises. The MMs now decide whether lowering the price will offload some of their position or whether they are prepared to hold the position. It seems like they have mostly decided to hold at this price but for how long?

Well you are both wrong then. You need to do some reading up on the role of marketmaker. They may not want to hold a large position but they are in fact obliged to make a market and therefore MUST buy at the price they offer. In fact, a marketmaker will always hold a float of shares but they will try to keep this to the minimum required to make the market. That becomes difficult if institutions keep selling while the company keeps releasing bad news.

We don't know how many of those shares are still held by the marketmakers. Lets face it, it must be very difficult to offload the shares sold by institutions while the company lurches from one setback to the next. My guess is that the marketmakers are still holding a lot of shares which puts a lid on any future rise. Meanwhile, they must be reasonably confident that PIs will slowly take up the slack as the share price is doing surprisingly well given the circumstances.

NFM now available to trade on Halifax.

The shares are tradable again on Halifax account but still under CCZ ticker.

I didn't contact Halifax. I topped up last week and even though I was tempted to add another £5K this week I decided that I'm probably a bit overweight on this position already so I'll just leave it. But I'd be very annoyed if I hadn't already topped up. At the moment Halifax have delisted CCZ but have not made NFM available to trade. I assume my account will update at some stage with the shares converted to NFM and my account balance restored. I assume you are in the same position.

Not my style shuvlin, just check my posting history. I can be negative on a share and I won't hold back on my opinion but once I've made my point I move on. 585 posts since I joined over 10 years ago, I'm just too lazy to be a persistent deramper.

Anyway, I get what everyone is saying. Not to be rude but its nothing we haven't been saying for a while now. I may get lucky and buy in cheaper in 2025 or I may miss out on the first few pence on its way to 20p. Its a risk I'm happy to take.

I had a few top ups last week to get my average down to 1.4p. But this week Halifax won't let me trade. What broker are you with? Niobium seems to be the hot commodity at the moment, the success of WA1 (5000% return in two years) could be life changing if it happened here (we can dream). The share price has gone mental on ASX over the last couple of days 1.8 cent today so we should gap up to 0.9p in short order. If the recent surface assay results come back anywhere near those already quoted this must surely rocket. Under the radar at the moment but those WA1 shareholders must be looking for somewhere else to park their profits.

Finally out now at a 40% loss. Very disappointing after holding for 4 years. The decider for me was Leon's comments re IRH to Mikisunday at the AGM. Sounds like IRH isn't going to happen and I wouldn't be surprised if that's the real reason for institutional selling. PIs picking up the slack isn't much consolation for me.

I accept that IRH is more than just the IRH deal but its just one more disappointment coming down the tracks and the market will surely (over)react negatively. But its not just IRH, the macros for copper and commodities in general just don't look great. EV vehicle sales struggling, China struggling, Trump protectionism. It seems like we are in a perfect storm.

Meanwhile the company continue to make operational progress. Two steps forward one back perhaps but progress nevertheless. But this has been the case for the past couple of years and that suggests to me that what happens within the company is insufficient to move share price without a following wind of positive macro sentiment.

I can't sit and watch two more months of FIL selling off their holding without thinking something deeper is at play. These guys are not idiots.

Finally, and it needs to be said, Leon and co awarding themselves options at insultingly low price has left a bitter taste. I'm not sure how much trust I have lost but it feels like I need a time out and see how I feel about the company later in the year. There is no doubt that Leon and his colleagues have worked hard and achieved so much. This company will come good but when?

And if you extend the FIL plot down to the zero axis at the same rate of decline; it looks like we've got another two months of FIL selling.

I think the latest announcement deserves a shameless ramp...

https://wcsecure.weblink.com.au/pdf/CCZ/02887302.pdf

Kevin Das building a substantial stake with 80 million shares (5% of CCZ). Mr Das is co-founder and Director of the ARD Group.

https://www.ardgroup.com.au/

From the 'Acquisitions' page: The ARD Group currently manages its own private portfolio of Australian mineral projects. Through the utilisation of private capital, the Company intends to advance its assets along the development curve with the intention of progressing them to production. With project acquisition and development, a core function of the ARD Group, the Company continues to actively seek further acquisition opportunities within the current mining cycle. While all stages of the development curve will be considered, investment capital will be prioritised towards advanced assets and commodities with strong supply and demand dynamics.

This is very interesting as CCZ have stated they are actively looking for a partner to develop the 'Big One' prospect. I feel things are about to get interesting. Wish I hadn't already loaded up at an average of 1.7p but hopeful that I can at least get to break even.

In the latest podcast https://x.com/TheMarketBullAU/status/1858310711887503802 Ged Hall said he expects regular updates every one to two months for the next nine months as Harts Range programme entails further surface assays, aerial geophys survey, soli sampling, trenching, bulk sample tests and then drilling.

I'm just glad to see some activity and the share price will hopefully reflect that. More immediate news should be confirmation of Cangai sale as due diligence is due to complete in early December. We are also waiting on surface assays from Big One but these always seem to take much longer than from the other prospects; hopefully Q1 of the new year. We should also see the plan for a new drilling campaign at Big One some time in 2025.

Thanks Mikisunday, lots of positives but not sure I like what I'm hearing about IRH. Reading between the lines there seems to be some issues. Talk of other potential partners and renegotiations sounds like preparing the ground for bad news?

Your biggest problem will be selling £20K worth of shares without affecting the share price. This is a relatively lightly traded share. Anything over £5k may have to be via negotiated trade. I suggest you make the transfer over several trades with a couple of weeks (at least) between trades.

A little worrying that we have not one but several big institutional sellers at the same time that our FD joined, took a look around, and was off at the first opportunity. Replaced by new FD with links to Slater. Why did Slater feel the need to put his own man on the ground?

TR1 suggests FIL are not the big seller. Only a small reduction in their holding.

Very impressive assays and there seems to be determination to fast track an aerial survey.

https://wcsecure.weblink.com.au/pdf/CCZ/02877298.pdf

I can't see this 'being in the crosshairs of a bigger player'. Way too early and there's no history of close collaboration with a big player which would normally precede such a scenario. However, I've felt for a while that this is ripe for delisting and being taken by a private equity firm. ITX has never really fit the profile of a public quoted company. JS is uncomfortable with the public exposure and I don't think the company has really figured out what its about, even after all these years. If I was JS I'd look for the time and space afforded by a private equity with a long term view. However, I'd imaging most private equity firms would prefer to make their move once ITX can prove breakeven. I wouldn't be at all surprised if JS plan is to hit breakeven then look for a delisting.