Member Info for RichTheNewbie

Trade of half a million in one go from yesterday just reported. These sustainable shares are being munched at an increasing rate.

Should be great figures.
Average price should be in the region of $1900 give or take $25 (looking at the gold price over that quarter and a fractional discount).
You would imagine they've sold another 30k oz of gold (or more).
So, with the existing gold reserves, this should be in a comfortable cash-positive position (debt free in all but name).
The market will start to take note sooner or later as the cash piles up (and other assets come closer to going online - both raising the production level even more and diversifying risk).

No worries.
I'm far from a charting expert. If anything I'm more of a skeptic than a believer.
However I do find very basic channels and levels worth paying vague attention to.
(Bluntly I think most technical analysis is a poor substitute for proper analysis of a company, its market, and macro factors. Mostly used as a comfort blanket to justify punts with no real thought behind them.)

Looks like gold is breaking higher and someone's munching on an iceberg here at 39p. When that melts it could be into the 40s in a flash.

In case it helps, I posted this a week and a half ago: https://www.tradingview.com/x/t0tbBEyQ/
Wind this forward to now, and it's continued to follow the channel, bouncing off the bottom and heading upwards: https://www.tradingview.com/x/AeJDT6kX/

I think you're over-thinking things BumbleHum.
The bid/ask spread is a load of nonsense most of the time on a quote-driven share anyway.
More importantly EVERY trade is a BUY and EVERY trade is a SELL.
That's what a trade is.
There are so many ways trade feeds can confuse/mislead people that, not only would you definitely be best off completely ignoring all "BUY/SELL" flags, you'd probably actually be better off ignoring the BID/ASK spread completely too.
When doing that you'd probably start to see the patterns in the trading, by price and volume, far better than you would when focusing on these other bits of "information".
Even when just focusing on the price/volume - you'll still come up against late trades / worked trades / etc - and often be working with a quarter of the pieces in a puzzle.
Knowing this is the main thing.

In many ways (arguing against myself now), you could actually say there's no need, looking at the SP graph from this year. Pretty good performance considering!

The reality is this big rise in the SP is fairly meaningless.
Anyone buying shares now is paying about 66p per share (after rights exercising).
When it was down at 110p it the equivalent of paying 50p per share.
It's not really a massive change because the rights issue shares will outweigh any movement now.
All the action will happen just AFTER the rights issue closes (not before).

I suppose, on the basis that if you don't ask, you don't get. Maybe I'll suggest that in a tweet to them - rather than on here ;)

Problem is there's an awful lot of people now treating this virus as "not that bad" because they've not had it or looked at some graph showing the death rates (without realising that just because you aren't guaranteed to die from something it doesn't mean it's not horrible).

samb69 - are you an alias of that idiot earlier who calls everything stupid before saying something silly?

(didn't see your post before writing mine mdmckea - but clearly we were doing the same thought process :p)

Currently 1.9bn shares in issue with an MCAP of about £2.6bn at 136p a share.
After the rights issue there will be 8.367bn shares in issue.
So a MCAP of 2.6bn with that number of shares is 31p.
The MCAP would have to get back to 5.2bn just get back to 62p.
That's the price of the dilution.

As the saying goes, you can lead a horse to water, but you can't make him drink....

At least the horse doesn't call you stupid when you offer it water.

The way you're replying confirms my suspicions. The best piece of advice you'll ever get is go phone your broker now and discuss this with them and what happens to your positions when the rights issue concludes. Now stop with the brainless insults and ring them, NOW. You can thank me later. Although of course you won't.

denman321 - Not necessarily. Think you need a crystal ball for that though ;) Remember that because the rights issue shares
will outweigh the current price (as 10 for 3) it can move a fair bit now without impacting the average price ex-rights as much.

I think you could be in for a big shock Ratty.
I suspect you don't realise the price you're shorting at and quite how leveraged in this rights issue.....

I think they should use some free cash to take any shares sustainable capital want to offload and get the monkey off our backs now ;)
I reckon that'd be the best bang for the buck SP wise!

It depends. You've effectively got a short position on at something like 52p, very roughly, if my maths / understanding of how they adjust for the rights issue is correct. Once the rights issue is done that is.

RattyRy: The rights can be taken up against you (which you can guaranteed they will be) so that your position is effectively adjusted.
I.e. - https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/market-details/what-happens-to-my-shares-position-if-the-company-offers-a-right