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It is a very volatile market at present and many "unloved" shares are beginning to rerate as people look for value. Take SAGA - it has more than doubled over the last 14 days. Even so I'm still underwater on SAGA, but it is tempting to pull out of SAGA and UFO is one of the shares I was thinking of buying into. It's just a case of trying to predict the price when SAGA will run out of steam. I had a 350p limit sell set-up but it only bounced to around 340p before falling back to nearer 300p again.
Hopefully UFO stays fairly flat until I get a chance to buy a few...
The suspended triangle with the ! disappears at the end of the month and normally reappears on the 1st or 2nd of the month. This seems to be some form of "housekeeping" with suspended shares and I used to see this happening with EUA every month.
MTFB has now come back twice in the past week, so fingers crossed this is a sign that it is coming out of suspension and an RTO announcement is imminent...
I've been watching SYME for a while and waiting for an opportunity to grab a few at a decent price (was hoping for 0.37p but thought this was slightly optimistic!)
With the market chaos I was lucky enough to buy 189k shares at 0.364p at 15:36. I only had enough cash to buy either SYME or UFO and as I already have another miner I settled on SYME.
There appears to be a large bid/offer spread. A few tiny sells going through at 31p, with the majority of buys at between 32.3p and 33p. That is around a 6% premium. It looks like the share price is jumping up and down, but the sells are very small. Anyone have a theory of what is causing this?
Guitarman001 mentioned that Slash is his hero, so perhaps he is John Sumbler. He is UK based and founded Guns or Roses around a decade ago and was playing Slash. He also said he liked Aerosmith and this is the 1st additional band mentioned in his bio...
http://www.gunsorroses.com/members.html
When I 1st heard about EUA last October they were 1.3p but by the time I'd done some research I bought in at 2.45p. Did a bit of trading before suspension so average around 3.6p. Last sell was 6.22p but I haven't bought or sold any after suspension.
I used to be trading EUA from when I bought at 2.45p in October up until February. During this time the share had enough volatility to easily rise or fall by 20-30% on some days. It is never easy to sell right at the peak and buy back in the trough, but I usually worked on selling at what I thought was a good price 1 day and buying back in again within 24 hours at 10% lower. Doing this bought 10% extra shares each time so I found it was a good strategy to increase my holding in EUA without increasing my initial investment. Everything was going well until my last sell at 6.22p just before suspension. The plan was to buy back in at 5.5p-5.7p again but the price kept climbing so my last sell became an unintentional top slice. Initial investment was 22,000 shares but at 1 point I had almost 100,000 shares before ending up with my holding to 47,777 shares. After EUA came out of suspension I won't trade EUA again (unless I did a top-up first and use just the top-up to trade).
I love black pudding and also the square sliced lorne sausage Ian, but being based in South Africa means I've never seen it for sale out here. I've occasionally seen haggis for sale in the butchers but I've never tried it. There are loads of German ex-pats living in our town, along with a smaller British and Irish community. We have a German deli that brings goods over from Europe, but the British store we had closed down a couple of years ago.
I did almost exactly the same as Kettle - initially bought at around 22p and topped up in the mid 30s. Bought a few more on the way down at around 7p. Bought a few more when trading under 0.2p which brought my average down to around 4p, so anything above that will snatch victory from the jaws of defeat!
I'm seeing ads from Banggood. No it's not where you can get a good bang - just a Chinese site where you can buy cheap electronic stuff. Also ads for a hybrid Lexus and lifestyle estates in the Western Cape.
GMF78 and a handful of other LTHs with large holdings reckoned 78p was a possibility. My dream scenario is that multiple interested buyers end up in a bidding war and the final offer hits ÂŁ1. This would make my current holding worth over R1,000,000 (South African Rands) before tax and give me a story to tell my grandchildren!
ferg.gg - When I first heard about EUA in October last year, my perception was they a small AIM company with a mine on the doorstep of NN. The best case scenario at the time was EUA would be taken over by NN. I bought in at 2.45p and the dream target price at the time was around 27p (which we’ve just exceeded today). Recent developments have shifted my view on EUA from a small player that might get lucky and be snapped up by the big company next door to a company that has a significant amount of in-ground assets that are in global demand. IMO there is interest from several international bidders and NN doesn’t look to be as much as a likely takeover candidate as it did last year. Multiple bidders could push any offer price up by 25-50% over “fair value” if there was only a single interested buyer.
The other interesting thing is EUA used to mention NN in their opening description:
“Eurasia Mining is a palladium, platinum, rhodium, iridium and gold producing company, operating the established West Kytlim Mine in the Urals. It is also the operator of the Monchetundra Project: two predominately palladium open pit deposits located 3km away from Severonickel, one of the largest Norilsk Nickel's base metals and PGM processing facility, near the town of Monchegorsk on the Kola Peninsula.”
The introductory preamble for this RNS has been changed to:
“Eurasia Mining plc, the palladium, platinum, rhodium, iridium and gold producing company, operating the established West Kytlim Mine in the Urals, and also the operator of the Monchetundra Project comprising two predominantly palladium open pit deposits near base metal and PGM processing facilities close to the town of Monchegorsk on the Kola Peninsula, ….”
A few buys have gone through at 0.75p to 0.77p. There are even a few "sells" listed at 0.64p to 0.65p. I'm not sure if the 0.64p and 0.65p trades are buys or sells...
n1247, IMO it would be a bad move to set a stop loss on an AIM share with such a low market capitalisation of ÂŁ3m. The MMs will see stop losses and may briefly drop the bid to take out stop losses and 0.41p could be triggered again tomorrow.
Funnily enough I think that is probably what happened with the biggest sell of the day. This morning there was a 12,000,000 sell at 0.41p - which was the lowest price of the day. I cannot imagine somebody with that size of investment getting spooked and manually hitting the sell button at 0.41p today. It's more likely to be some unlucky punter who set a 0.41p stop loss just in case things go horribly wrong and the MMs took it out for a fast buck. Most of the buys were going through at 0.5p or about 20% higher than this seller got for their shares...