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'To get it' you have to understand how the market makers operate. A placing is a golden opportunity for them to make money. Brokers like Turner Pope 'look after' the market makers and give them an allocation of placing shares to flip. It is therefore in the MMs best interest to try and raise the price to make as much profit as possible. Of course they cannot raise it too high otherwise they get hit by a wave of selling. Once the MMs have flipped their allocation and liquidity dries up, the SP normally falls to attract new buyers.

The MMs will move the price around to make it look that way in order to shift stock - I've seen it play out this way many times before after placings. I don't think the share price will go anywhere soon as there's far too big a supply for the time being. Also there's unlikely to be any news soon to drive it higher as the directors bought shares so they're not in a closed period.

It's not a very good sign that they only managed to get the placing away at 4.5p. If they were expecting to release good news in the next few weeks/months the company would have waited for a higher share price before raising funds. It's better for the directors to have an incentive for a higher share price but often on AIM it is little more than a PR exercise when directors participate in placings. Also it means there is no new news due as the directors wouldn't be able to take shares if news, like a big contract win, was pending.

There's still much more shares available to buy from the MMs than sell which indicates the selling hasn't finished yet. There are 2 MMs offering 100,000 shares at around 44.27p yet there's only one MM willing to take 25,000 shares at 44p at the moment

Yes, I'm not at all surprised. Not a very good price for existing shareholders. I expect the company will say how wonderful the acquisition is but only time will tell whether it works out or not. I'm very sceptical about directors participating in placings as in effect the company usually pays for the shares via salary/bonus.

It's very likely there's a big seller in the background so it will bounce once the seller is done unless there is a sudden surge in demand for the shares. It's as simple as that IMO.

Hopefully the company will raise some more funds soon so that the Sanderson loan can be paid off when it is due in May

Can't say I'm sorry to hear Beaufort have gone under. Sanderson is a related company and really screwed EUA with very expensive financing deals. Sanderson still hold �250000 of convertible loan notes from EUA. I'm not sure how today's news will affect this facility.

That's right Mac. Until mid April the lowest possible conversion price is 0.34p.

Shame it was only $50k converted. There must be around $1.1million still to convert plus 110 million warrants @0.34p

Shame it was only $50k converted. There must be around $1.1million still to convert plus 110 million warrants @0.34p

Bugger. YA have been selling after all and converted at 0.34p. Big profit for them :-(

At least EUA have an agreement in place for 85% of the funding required to build a mine at Monchetundra Why aren't Sinosteel funding Tjate?

In December the loan note facility was amended. Repayment is not now due until September. EUA paid Riverfort a 10% fee and issued a load of warrants at 0.34p in return for an extended payment period. It is quite posssible that Riverfort are forward selling before converting some loan notes or warrants which will hit the share price short term but that will be just another buying opportunity for us. If the price falls to the mid 0.3s again I will be buying more shares.

If it's Riverfort selling then at least the size of the outstanding loan will be reduced or EUA will get some extra funds in from conversion of the warrants

Rhodium crashed because it became too expensive for carmakers to use in cats. When the price skyrocketed they used more platinum and palladium instead. I bought some about 18 months ago when it was just over $600 (I couldn't believe how cheap it was) and sold a few months later after it had a decent rally - although I should have held onto it.

4% spread is nothing. When it was quite here it was more like 20% LOL

Also the company may get some extra cash in now the sp has risen well above the warrants at 0.34p

that didnt last long. Only 50k now available at .47p

only 500k left at 0.47p now.