I seriously hope they do. The shares are now trading at their lowest point in 5 years despite the fact the company is in a better shape than it was at any point in the past.
Most of the time on AIM results RNS's are rubbish with a veneer of gold. YU have done the complete opposite and released solid results with a number of notable improvements but buried them with Covid19 and statements regarding unknowns. Certainly a good opportunity for the BoD to buy. NT this morning doesn't surprise given we are at least 100% shy of where the SP should have been pre-results.
And there it is. We finish the week with a Market Cap at least £1m less than what we have in the bank in cash. Work that one out! I hope the financials land next week and we can reminisce about the days when YU shares were less than a quid. Have a great weekend all.
Looks like it will be Monday before we get confirmation of the 600k subscription being completed by PM LLP. If they take the shares at .42 we should be in for a belting day. For now it looks like the MM's will absorb shares at the current level knowing they can offload at a decent premium early next week.
I'm not surprised. Should have seen a 100% rise yesterday but we hit a wall at around .30/.31 I imagine a few folks are realising we should be at least trading at .42 (the reality is it should be significantly more given the cash position)
Its like they are running a completely different order book: I could get a buy in at 68.7 without trouble before close so why on earth would someone pay 71p (unless of course they snatched a limit buy). The 65p seller remains a mystery.
Potentially an RNS waiting in the wings. It would at least explain why the II was willing to take shares at what currently appears to be a premium (not such a premium if the SP fires past .42 with the help if some news).
The best deal Precious Metals Capital can get tomorrow is .42p which in turn gives the MM's no option but to lift the SP to that price to offer retail buyers/sellers what is essentially a fair market value agreed by an II. Why on earth are holders selling for 28p (50% less than what they should be getting against the market value agreed by the II)?
Its a bit odd. Bit of pressure just killed off by a handful of sells. I wonder if there are still shorts trying to close at a particular level. I guess we will see if the usual 65p trade goes through at close of busienss.
RE: 30 mins of hammering the buy button2 Apr 2020 12:41
I am intrigued as to how the MM's are managing to hold the SP at .29/.30 given the constant buying pressure. I guess we may see the SP rally suddenly later today once they have collected as many cheap shares as they can.
Still plenty of upward movement to go. I had a limit buy set up this morning and the MM's jumped straight over it. Looks like the last opportunity for a really cheap top-up was yesterday.