"It would be a great time to buy"
That is an absolute statement on something that is a) subjective and b) uncertain. This surely does constitute investment advice, even if the words "you should" or "I recommend" are not offered.
Oh and @NorthBank, though I have no desire to get into a ****ing contest with anyone, I strongly suspect that I have been invested in BMN for longer than you, and find your suggestion that all LTHs act in a certain way to be naive and ... well... wrong! For one, you are asserting that LTHs "generally" only sell when compelled to do so, but many of the most prolific long tern holders here have previously disclosed details of sells - which is absolutely their prerogative and in many cases has proven to be a profitable (short term) course of action.
@RichKen - you appear to be providing investment advice which - last time I looked - was against lse rules for good reason.
I am sure your logic would be that dividend news is expected in the next 10 days, but you would have to admit that the message has been "news due, buy now" for the last 6 months, and in fact anyone caught up in that hype is likely to be sitting on a loss at the moment.
I do believe that all of those investors - assuming they have the financial means and patience to wait - will end up making a healthy profit. Nonetheless, do you not agree that discussions here should be limited to dissecting news events, discussing possible outcomes, and a bit of o/t nonsense, rather than directly encouraging strangers to buy?
@mywineman - I would be very wary of thinking that anyone posting here knows more than you or I do wrt imminent news.
The fact is that the dividend policy announcement - widely anticipated (/ hoped?) to fuel the next significant share price uplift - is expected in Q1. Given that we are now 10 weeks into this quarter, and less than 3 weeks of it remain, the chances of that announcement hitting 'next week' are becoming greater and greater.
One of the wannabe vanadium plays is looking to join the AIM party:
https://dmtrk.net/2QYA-UL3Z-57MDBI-HVVIW-1/c.aspx
I am sure that anyone wishing to get exposure to a potential copper boom will be able to find somewhere better to put their money than RRR. Plenty of pure-play copper / copper-gold plays on AIM and elsewhere with far less baggage and far more potential.
Very true. For anyone in the business of profiting from a short position, there appears to be something of a perfect storm here:
1) a company whose share price has increased significantly over recent months; and
2) a significant holder on their register who has recently released a TR=1 taking them just below the reporting threshold. though not guaranteed, the way their initial sell off was reported did suggest strongly that they intended to continue liquidating their position
3) historical evidence that a significant seller has the ability to trump any and all good news released by the company
"the SP is being held at a certain level until Bushveld want it to fly"
Patent nonsense. How exactly would they do this?
Theories such as this abound on just about every board here and elsewhere, for the simple fact that people want to find a way to put a silver lining on the fact that their investment is losing value. Sometimes - especially in the case of a non profit generating explorer - the suggestion is that drilling results or assays are being "held back" in order to suppress the share price, which does seem like a plausible way to achieve such an outcome, but I would bet that in all but a tiny number of cases, no such thing really happens, and it's just another paranoid conspiracy theory from the hordes of PIs looking for a comfort blanket..
In the case of BMN, who are putting out quarterly reports declaring significant profits, are regularly attending investor invents and conferences, putting on webinars and talking up the future of the market - and have a house broker with a declared "conservative" price target which is more than double the current sp - what exactly are they doing, or could they be doing, to suppress the share price?
Evidently there are forces at work causing the sp to retrace, but it isn't certainly isn't being orchestrated by BMN themselves.
Geez, it's not rocket science. You call up your broker and you request that they carry out a bed and isa for you as close as possible to the current bid price. They contact the market and agree a fee for the transaction which should be in the region of 25 to 50 pounds. Generally, this "fee" is taken by providing a slightly higher ask than bid for the trade - i.e., there is a spread, but it is relatively tiny, and only "loses" you as many shares as are needed to pay for the transaction cost.
If you are only offered market rates for the trade then don't agree to it. If - even when pressed to offer a reasonable cost for this service - your broker refuses to offer anything other than market prices, transfer your shares to a better broker. II will do it properly - others no doubt will as well.
"minor concern about the production numbers"
That "minor concern" equates to millions of pounds of revenue though, and when taking into account the apparent delay of at least 12 months in reaching anything close to the projected 5000k nameplate capacity, this will become several tens of millions...
It's true that "we have an action in place", but the market will place no value on that until the fruits of those actions are seen through improved productivity in future quarters.
Thankfully, with the dividend policy due to be announced during Q1, we do have some good news close at hand which should have a positive effect on the sp without needing to wait for Q1 (or, more likely, Q2) production updates to start seeing them turn the corner at Vametco.
Perhaps I have misunderstood, but is there not a significant negative tucked away in this morning's RNS?
"During 2019 Vametco will continue to progress environmental approvals for Phase 3 of the multi-phased expansion project. In addition, detailed design work and capital estimation will commence with a view to construction commencing in 2020."
There was endless debate here 12 months ago over whether the 5000Mtv target was going to be achieved during 2019 or by the end of 2019.
But now they're saying permitting in 2019 and construction "commencing" in 2020. Does that not rather suggest 2021 is the earliest before nameplate capacity will reach 5000 Mtv?
Why do you keep posting thing nonsense?
After several days of almost identical price action (and previous occurrences of such patterns historically), it is abundantly clear that the share price is range bound between 38p and 42p while one or more sellers clear.
Until that has happened (or some major news event stirs things up), then any technical analysis (including EWT) is - temporarily - redundant.
Oh, and my second best advice would be to not make any investment decision after reading an article on Share Prophets.
Especially when the article is about a company whose director is a friend of TW and therefore never subject to any amount of criticism despite his almost never ending litany of failures over the past 10 years.
My best advice would be to forget about what your average is here, and invest spare capital in the opportunity that you think presents the best chance of profit. Although reducing your average might feel like it is making good some of your past bad choices / bad timing, the reality is that profit is profit wherever it is made, and if there's better opportunities elsewhere, then that is where you should be looking.