Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Auson:
That is very interesting, thank you. I think that you counted all trading since the report. I have just under 51 million shares traded in Stockholm from and including the day of the report, and up to and including so far today. So half of the trade has been in STO and I think that might mean that your figure of 70 million sold also needs to be cut in half.
Auson:
AB said Swedish holders hold (held...) 10-15 % of the total number of shares. I think it might be more...
Also do not be fooled thinking that Swedbank, Avanza etc, and other swedish "institutional" looking holders in the share holder list are anything other than retail...it is retail holdings via the earlier mentioned insurance accounts which now are forced sellers...
Jan,
Actually selling, moving the money and re-buying is not the worst case... some of these account types are retirement accounts and restricted, some in the sense that it takes week or months to move the money, some in the sense that it is actually not possible.
As if selling the shares and then re-buying would be an easy solution to begin with....
Sekforde,
You said: " If Swedish selling is because its investors cannot be bothered to arrange a nominee account then it just represents a classic buying opportunity."
It is indeed a buying opportunity for those who can buy, regardless of if the selling is actually forced or if it is just because people 'can not be bothered' .
So please tell me, how exactly is the mecanism to hold on to shares for:
Värdepappersdepå (here I think it should be possible, but who uses them anymore?)
Investeringssparkonto
Pensionsförsäkring
Tjänstepensionsförsäkring
If you have one of these types at a broker where you are not allowed to hold foreign shares, then you need to sell the shares as far as I understand. Please correct me if there is another way.
Oxygen, that is exactly what they should do. Repurchasing and retiring shares at these levels is the best capital allocation for all remaining share holders (including AB) and beats drilling for oil e.g right now by far. Now, if they could learn...
I just checked Malcys quote which in fact was: "... Enquest are learning fast but not entirely fluently." From 2018, and more eloquent put than what I remembered.
Now if only they could learn fast to repurchase shares at rock bottom prices. Best capital allocation they ever could do.
I remember Malcy once said re Enquest, that they "are still learning" at one of the report dates. I thought him unecessarily blunt (which he was probably due to them not hiring him for promotion campaign). But he was and still is actually right. They are still learning....
Somebody also then bought 600K shares... unfortunately the price goes down when somebody needs out that fast. On the other hand, if Enquest would start their stock purchases the price would go up in the same fashion. Hey, didn't Craig say that they thought the share was undervalued. Well then BUY IT Craig, and Enquest!
Further to Papegojas suggestion I looked up the Avanza retail selling. It was net sales of 700 K shares yesterday and almost 600 K today net sales (15 min delay as I am not a customer there). I guess they were not convinced by Craig's comments today.
It is interesting to note that the trading is very slow in Stockholm today. Only 50 thousand shares (less than 10% of the London trade today). There has been 40 million shares traded in STO since the delist news came out.