focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
You gotta love the way markets love an excuse to panic (or maybe the big boys have lots of short positions running?)
The rise in inflation wasnt "totally unexpected" and economists are saying it was actually caused by a large rise in tobacco duty. But never mind lets get everyone one panicking and try to smash those risky assets like oil and gold
5.9m trade printed at 298.40
Can never tell for sure, but a worked sell that caused the drag on share price over the last week?
Share price has certainly rebounded very quickly now the trade has gone through
Looking at the price action over the last week, I think we should remember there are probably those with short positions who have lost a chunk of their profits and would be keen to get the price heading lower
Just because short-tracker shows hardly any positions, doesent mean there arent a number of shorts lurking below the 0.5% threshold
Something certainly sparked the price this mornin though. Was heading into the low 290s when it suddenly turned right round. Someone with a decent buy order?
Anything is possible I guess with election year in the US and cheap gas always being a vote winner
On the other hand, I read an article this morning stating that hedge fund short positions increased by 61k in the week to 02.01.24 which apparently is a big number. We always seems to get newsflow that fits hedge fund positioning it seems..... *cough
No way they will be drip feed that number of shares
As you say, a secondary placing is more likely. Once the market price is above 360p a showing them a profit, there will likely be a long list of institutions looking to get in and take the shares at a (hopefully reasonable) discount to market price
Surely if the gold price continues rising toward $2100 ($2061 as we speak), large insti holders will more and more realise that this offer cheats them out of value?
Or are instis like an old boys network, and once they see two accepting they will follow like sheep for missing out?
At this gold price I should be feeling really excited...instead I just feel more and more mugged off
Dont read much into anything that happens today - a shortened last session before xmas
We will see some buying of coursem, but dont be surprised to see downaward pressure from shorters looking to extracate themselves from positions that dont look so rosy anymore
Real fun will start in new year imho
Wonder if well get an announcement of this being completed 'by year end' and $84m being chalked off the net debt?
Possibly better being announced early in 2024 so the benefit isnt lost due to ongoing christmas parties and holidays
Dth
Yeah we get it....you sold out and missed the fun of this incredible offer lol