George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
The reason the share price is where it is has nothing to do with Clive, or the RNS's that he has issued in the past.
The price is 7 /8p, because someone is selling more shares than the market can soak up. The MM's have more shares than they are comfortable with already, and the sales keep coming.
Going back to the Award of long-term incentives 5/06/2019 the 1st bonus is on a mkt cap of $0.8 billion at a share price of £0.1723.
This gives scope for about 3.6 billion shares to be in circulation @ 17.23p
We currently have ~1.9 billion shares issued.
Lots more scope for "related party transactions".
1 million shares is about 1.6%, I wouldn't hold your breath waiting for a TR1.
You can look at the daily trades and workout whether Peel Hunt are going to produce another RNS. :-)))
This is a post from me in July:-
1% increase over the day11 Jul 2019 17:43
Don't know who or why, but some bright spark is selling the mm's enough shares to keep the price in check.
PI's have soaked up a lot of shares lately, so the mm's have been getting them from somewhere, and they would be quite happy to sell those shares to us at ever higher prices if they only had a limited amount to sell.
We've had this seller for months. I seem to remember it dragging the price down to 10p around September October.
coffeecups references it on 11th October.
I think this maybe the real reason for the low sp rather than old RNS's from Clive upsetting the market.
You've got that a bit wrong, he has to get both the market cap above $800 million and the share price above 17.23p.
To get a market cap of $800 million with only 1,883 million share in issue requires a market cap of about 32p.
Clive and Kuat Oraziman get their first $3 million when both the market cap > $800 million and share price > 17.23p.
On the current shares in issue, to get a market cap of $800 million requires a share price of approx 32p.
Way to go yet.
No one is buying, but Peel hunt is in control of the share price and they are accumulating all the sells.
They must be expecting to see some black swans, or what to us will be black swans.