Member Info for Pondering

The MMs also make money on volume of trades, so it’s in their interest to encourage people to buy and sell. That means the sp not just staying in a fixed range for months. For risky shares, there are the very spiky sp charts generating volume from short-term trading. For sound investments such as BMN, starting from a low point as now, it should mean gradual and sustained rise. Hopefully, the MMs recognise that this is also in their interest.

Ok, So I have bought £360 worth to reset it back to 0.57. Heady days of excitement here.

So just 1x £816 sell today drops the share price by 11.3%. Impressive.

It is another significant error from them to set a target date to provide more certainty, and then fail to meet that target. Poor show definitely.

However, I am still give the benefit of the doubt as per the RNS "...a short period of voluntary suspension of trading on ASX during which it expects to complete..." that it will be cleared up fairly soon.

Well, another week, or less is possible.

Yep, I have joined recently and wanting to top up more, but buy max buy is £22s worth atm. I take that as a good omen.

Just for the record the 08:38:00 is a buy from me, so the two other trades from today must be also be buys.
GLA

If you haven’t sold, then you haven’t lost. If you have sold, then I have taken some of your shares. I will be looking forward to next March, along with the majority who will just wait this out.

I had a few of these earlier in the year, though took profits to move elsewhere, where I have a bit more of an interest.
It looks like an error, but expecting to be rectified and bounce back up again.

Another fun game could be guess the size of the massive single sell order being filled.
(Positive comment: it could always be the last one!).

Confirmed. I have bought a few just now at that price. Happy to be on board.

I wasn't around when GS and YD bought into the company - I've only been invested here since about June. However, whatever led to such larger investors being involved and then selling their shares has had a major impact over the last months. Tens of millions sold in the 10.5-13p range. I'm working on worse-case scenario that the OT shares may go also, which could mean some more months. There have been some pump and dumps, and some red herrings sold about it all being the MMs.

In order to counteract volume selling, there needs to be volume buying, which has only happened intermittently. The reasons mooted include branding/PR/AIM/delays/more attention going to other companies/sentiment from the former. These are the issues that the company could work on more, along with trying to ensure other larger investors stay on-board.

I'm less irritated now, because when I was very irritated earlier in the year with GS selling I made sure I got into a position of having as low an average as I could - below the current SP. I have enough to be happy on any rise, but will buy more if it drops into the 11s again (which it may well not). I do believe this will re-rate significantly at some point, which could start anytime from tomorrow to a few months. For anyone new looking in and prepared to wait a bit more, it seems a good point to buy in. dyor etc.

In simple terms, the ‘sexy’ branding and visible VRFB action has been divested too much to others. I also still suspect there is a larger seller offloading, though controlled around this sp level. Still an excellent buying level at the moment, though for gains sometime next year it seems.

They seem to be limiting buy transactions to about 200-220000 shares. NT above that at the moment. GL all for Monday.

I’m hoping for a pleasant surprise, but who knows as it is price-sensitive info of course. I think some people are trying to short-term trade this, or dipping in and out for other purposes - not a productive approach, due to the spread and extra buying tax. I’m quite happy to hold at this level. Maybe it will drop a little and then rise again, maybe it will rocket...

I'm on Barclays. Still showing 0.75p here.

Buys I think. Probably another >1M sell being filled, but not yet reported. Will know in due course.

I did spend a bit of time researching a bit more about CML and the project in Sri Lanka. In 2018/19, Mila Resources Ltd were attempting/negotiating to acquire 100% of CML, but it did not complete by “mutual agreement”. There are some pdfs online about the background work by Mila.

CML has incorporation on Companies House as of 6th October 2020 with only MF listed as an Officer at present - presumably in preparation for the RTO. The Mila documentation said that the company was registered in 2018/19 in the British Virgin Islands.

There is some information available about the two private Sri Lankan subsidiary firms Damsila Exports (Pvt) Limited (they have a website) and Eastern Minerals Limited (there is a facebook page EasternMineralsProject). Looks like there was some local resistance to the project, at least in 2018 (Movement for Land and Agricultural Reform website – “Damsila Exports Pvt. Ltd is planning to commence a mineral sands extraction operation in the eastern coast, stretching from Komari to Akkareipattu. The project area spans across three divisional secretariats, Alayadiwembu, Thirukkovil and Pottuvil, in Ampara District”). Presumably the company has been working on ameliorating any concerns via the Environmental Impact Assessment in progress.

There is a Sri Lankan website (Geological Survey and Mine Bureau) which lists Industrial Mining Licenses, which they need. At present, I can’t find a granted license listed, thought the RNS says that DEL has applied.

Available info suggests the deposits are richer/higher yield than average for mineral sands.

Agree there may be more price-sensitive (positive) info that will come in due course.

Odd, but strangely encouraging.
Could be GS still (I did post some time ago an estimate they could last until mid-Nov based on their known selling rate)
or YD (in which case that would be 1/3 their holding gone in a day).

All we know at the moment is that they have <30,231,667 shares.
Someone has asked for a longer list of the share register.