Member Info for mattlilly

Thanks for your constructive response drylands and I understand about A trades, and I also understand that the 'algorithm' on LSE allocates buys and sells based on the mid price at the time...

But before posting my question I examined all the bargains for the day and allowed for that variation...

Surely MMs still determine the spread, so unless one or more are the wrong way with their books day after day I still have a problem.

There is no escaping the simple question that if the total value of buys is a multiple of the sells and ALL those buys have been done at 26.5p or less (even down to below 26p...and the UT is 100k plus shares at 26.5p, someone is losing monet day after day...or at least one of the MMs is being 'sandbagged' by an operator like RBC in the background...?

This is a useful debate I hope..?

Is there anybody here who has direct experience of how MMs work?

There is something very odd here...day after day...

Take today...

We have 1.75 million buys and 700k sells...

The SP having opened over 27 spent the entire day below 26.5, but...

All the bargains at the end of the day were at 26.5p and the Uncrossing Trade is 102,878 at 26.5p

I was under the impression that MMs were in business to make money, so how can they do that when they sell £464,000 of stock to punters all day at under 26.5p and then buy in stock at the end of the day at 26.5p...

Any enlightenment please? (Not opinions, facts...)

Looks like MMs are quietly hoovering up stock at well above the bid...I'm bid 26 for 100k (cf 25.85) and 25.81 for 200k...

Just letting you know...

"pecker" has posted a couple of good ones...

"Must say I'm surprised by some of the negative reaction to this RNS.

What it tells me is that they have permission to drill 11 holes to a depth of 500 metres from 4 different platforms: hence the initial plan to drill 5,500 metres. The Fathom geophysics showed that the mineralisation found on the surface could extend down to 500 metres. The night shift photo is also of note. The target area of 500 X 400 metres is also substantial.

If the drill results are positive, it will show they have discovered a near surface deposit which could lend itself to open pit mining that is far less costly than deep underground mining.

Previously, Solg have issued separate, consecutive RNSs for each prospective site and I expect this to happen again to maximise impact. So roll on the Porvenir RNS."

And

"Excitement is IMO justified. The 500 X 400 metre "halo" site has been identified after an intensive exploration effort. Mineralisation is on the surface.

Taking the Fathom geophysics depth of 500 metres gives a block of potentially mineralised rock of 100,000,000 cubic metres. Assume 2.5 tonnes of rock per cubic metre gives 250,000,000 tonnes of rock. Assume mineralisation of 0.5% copper equivalent per tonne: 1.25m tonnes of copper equivalent.

The mineralisation may extend beyond the confines of the halo or it may be more sporadic within the halo. The grade may be higher or lower. But 1.25 million tonnes would be a good start given the size of the La Hueca concession.

Let's see what the drill tells us in the coming weeks."

Colonel...

I'm happily retired...

Play golf at least four times a week....

Managing mine and the wife's ISAs is my part time day job...

I pop in from time to time, especially when there's something going on...read all the posts here (sometimes soul destroying) and post a thought or a response as I feel...(always qualified by "AIMHO as usual" where I'm offering an opinion...

This is my most successful share to date (already taken £100k out of it, followed by ATYM)...and this is my favourite BB. I always read your posts and a few others who are well informed and/or objective...

As you know, my strategy for the last 3/4 years has been copper/gold/silver and in that time I've turned our mutual ISA value from £200k into a 'marigold'...and the best is yet to come for SOLG and gold/silver...

AIMHO as usual;...

PS I'm sorry you feel that I'm wasting my time...respect mate...ATB

1.1 million bought and 150k sold...and the price is down...

Can anyone with L2 see if there's a big seller sat on the book allowing the MMs to hold this down...?

That's my bet miagi....thats the one with substantial outcrops...

Nick's not ask idiot...he is the orchestra conductor and as these results are preliminary and don't yet require official technical verification, he can roll them out on the order he chooses, with the occasional blockbuster being held back for maximum impact...

He's only go 2 months or so to effect a material change in the SP so we can be sure there is much more to come...

AIMHO as usual...

Lighten up...don't you get irony...

Huh! A string of big buys, including 250,000 at 27.46 and the MMs take it down again...lets see ho long that lasts...

Aw...c'mon copper pot mate...we've waited 6 months for a meaningful Regional Update and you're disappointed...

The shape of things to come...should be s steady flow now to keep the MMs on their toes...

AIMHO as usual...

With 13 priority exploration targets covered by 75 granted tenements, where the surface features indicate better results than initially found at Alpala, the team is confident in the discovery of a significant pipeline of wholly-owned potential Tier 1 assets."

Right on cue...light the blue touch paper...

Sorry Eliza...not Elizah...

This was her last emailed response to me on 27 July (edited to remove confidential exchange on another matter):

Hi Terry,
My apologies for the delayed reply, I was out travelling with work last week and haven't had the chance to catch up on all my emails until now. I hope you're well and thank you very much for taking the time to reach out.

Firstly, I'd like to say thanks for your support as a long term shareholder and we appreciate having shareholders like yourself on the register. ...our team is busily progressing both the Alpala project and our extensive regional programme, where there is so much upside to come!

Please do reach out to me whenever you feel necessary.

Best,
Eliza

Elizah is London based and is good at getting back...

Just wondering...maybe there's a RNS pending tomorrow, so she felt she couldn't respond because...

If she gave her usual "upcoming news flow" she could be accused of giving the game away and...

If she gave a non-committal response and there is a RNS tomorrow you might feel she had misled you...

So...fingers crossed for tomorrow...that was a strong finish given that nobody paid higher than 26.5 all day...and that only towards the end of the day...

Great chart...I also noticed you marked where the, presumably, 20 day MA and the SP bounced off the 200 Day...and went on to cut through the 50 Day... is that a Golden Cross...?

Of course you're technically correct BNC...I've written a book on derivatives...

I'm a former stockbroker and we used to call it a backwardationsor 'back' in shares on the rare occasions when it occurred...and indeed I've dealt on them a few times in the last few years...we didn't have another name for it...

As you know, it occurs when one MM has a bid for shares at a price above where another has an offer...not often...

You and I both understand that the situation Novice was referring to occurs during the day when there is an auction and often after hours when MMs are making up their books...

Thanks for the prompt...

Franco Nevada due diligence still to be signed off on Alpala...

Just supposing SOLG is getting input from them for the PFS....that would be very bullish surely...?

Its known as a backwardation Novice...happens from time to time...

In this case the quotes weren't real...it was a temporary suspicion for the closing auction...

An excellent finish with the Uncrossing Trade 156440 at 26.6p...

Gold still down 6% so that's real resilience...

Surely only a matter of time before the newsflow starts and then the dam bursts...?

AIMHO as usual...

https://www.kitco.com/news/2020-08-12/The-inflation-trade-and-its-potential-impact-on-precious-metals.html

Just sharing...

Thought it was too cheap to be true...its moving now...15.9p to buy only 20,000