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Trufflehound, I completely agree with you. He certainly seems to hit the jackpot more often than not. I’m just throwing ideas out there as to what could be going on. Perhaps his view has changed since he began investing in DM?
I noticed that he flipped his 50p placing shares in 4D Pharma, which, in my opinion, is pretty disgusting considering that the placing only took place recently. My point being that he can surprise us.
*Price goes down*
“Ahh there must be a buyer in the background”
I’m not trying to be inflammatory, but have I missed something obvious or is this phrase thrown about far too often on these boards?
Definitely the case that the spread is masking trade types. The more chunky trades seem to be taking place in the lower end of the spread though, and given that it seems to have stalled, I wonder if the volume is coming largely from chunky sellers, rather than renewed optimism from buyers.
So it seems likely that RG finished closing a short position on 29/4 (hence the buying pressure leading up to that date). He still owns a hefty chunk so if he wants to offload it, they’ll need a bigger rise and a ton more liquidity, which is good for anyone here who is holding. I think I got all that right, but correct me if not.
Are holders positioning for positive financial results, in order to sell into a rise? DM make close to no money, but with the slight whiff of revenue finally growing, there could be some interesting price movement.
What’s up here? That was a pretty swift decline into the low 25p zone. People selling in anticipation of poor final results? We were warned that Duaklir sales were naff, although we have now shed our AZN debt which arguably puts us in a strong position. Recent director buys along with increased holdings from the likes of RG still give me confidence. If you believe in charts, the MACD seems to hint that a drop was imminent, so maybe this is it. Wouldn’t surprise me if we saw a large delayed trade later as being the culprit for this price drop.
Not necessarily. Sanankoro is why we’re all here. Well it’s why I’m here, and that project seems to be progressing well towards a smaller scale mine facility. Cora is worth more than 5p a share for that alone at 84% IRR. Before we see any further substantial rise however, the market will probably want more of an assurance that it will actually happen.
Can’t sell anything. So much for demand lol
Noticeably larger trades in recent weeks, notably an 833k buy at 6p from 1 May. Given the steady (albeit slow) rise in sp and today’s RNS I’d say 2020 is looking promising for Cora.
riddler
Thanks for clarifying. Good to hear.
No news since Feb and then suddenly massive volume, price starts to move and RG is playing with his holding - total % stake decrease so I presume he sold, although his old position was a combination of direct and indirect holdings, so who knows what he’s really doing.
DMTR associated with AZN now, who are also associated with CIR, who are also associated with AZN, who are both associated with RG. The man is always in the right place at the right time it seems.
Positive news flow so far in the form of various collabs, and it’s also relatively under the radar... don’t mind if I do!
RG and Lombard haven’t been reducing their stakes through disposal; the recent holdings RNS state that the cause is an event changing the breakdown of voting rights (like a placing). Polar Capital seem to be the only recent documented seller, and then there’s Ospraie hoovering up whatever they can get their hands on.
MMs do not print small trades to communicate. It’s utter nonsense. Most MMs are very respectable, heavily regulated firms who fulfil a crucial and very difficult, dynamic role in the markets. If a tiny trade gets printed it’s usually because it’s an algo trade, or because some idiot retail PI is trying to manipulate the market into believing that “1 = positive news”. It’s laughable.
Looks like today’s RNS confirmed it was a sale from Lombard. Probably just following their risk management strategy and reducing slightly. Nothing I’m too concerned about. Wonder if we’ll find out who bought the stock?
Large 3.4m trade @ 26p posted as a sale. Seems to have gone through as an ordinary sale, but I’m surprised the liquidity exists to simply hit the sell button on a trade that size.
The company being referred to is Sarossa Plc, and it’s an investment company, not specifically biotech it seems.
RG it seems could be the beneficial owner of nearly 30% of CIR, through various investment vehicles. Does this way of indirectly holding the shares impact whether he’ll have to make an offer, should he cross the 30% threshold.
I’m wondering if he’s planning on gaining control as a means to turn it into a cash shell and RTO a private company. Which one though I have no idea.
By rollover, what do you mean exactly? A market cross? This would make sense given the amount and price, and delayed reporting of the transaction. Off market trade between two clients of the same broker at 4.7p (low end of spread, but within nonetheless).
Personally not reading too much into this. No reason for HUM to participate in every placing, although it always inspires confidence when they do.
What do you make of the sizeable trades that just got printed? Looks like someone has been trying to offload in recent days.
The company website is not up to date with the latest figures; it doesn’t even show the Oryx position, for example.
CIR will be on the books of other institutions too, but we’ve all been focused on Woodford and Invesco, thinking that they’d be the only ones selling.
Perhaps the market are redeeming £££ from other funds, forcing them to sell off smaller positions such as CIR?
This drop, although expected (just not to this degree in only two days), has likely been caused by panicked retail investors and traders. It’s similar in magnitude to the one in early December, and that preceded bad news (coincidence or not, who knows?).
Coronavirus won’t be doing us any favours, but if you’re still convinced by the story and figures, now is simply the time to sit and be patient.
This is simply the natural ebb and flow of the market. Show me a stock that went up in a straight line. Low free float means that even if a bunch of PIs start selling for no real reason, the price will move accordingly - down. I highly doubt that any recently invested institutions are faffing around trying to day trade this one. Time in the market beats timing the market, and the fundamentals will bring the price up to a fair valuation over the coming months. If it doesn’t, it just means the game is rigged, which it isn’t. Chill out.
Doesn’t seem logical to the humble PI, but they’ll have their reasons for selling. Could be to meet fund redemptions or it could be that they’re offloading anything that they and Woodford have touched. This has been mentioned previously and makes sense, and indeed, they’ve been reducing their position for some time, which has probably been a significant factor in why the price has fallen so significantly. With that said, what better time to sell than into a rise, especially if you’ve got a huge position to close, which requires liquidity? Invesco selling is entirely unrelated to the quality or performance of CIR, in my opinion.
As mentioned below, I agree that more than “modest” sales of Duaklir are vital if this company is to recover. Let’s not get carried away here. Nothin is a sure thing, although I’m very comfortable holding for now, along with RG, Oryx, LO, and various directors.
As stated in their most recent filing of accounts on Companies House, Coeur is to hold an EGM in Q1 2020, and it also states that they shall seek flotation, possibly via reverse takeover. Shareholder funds of Coeur stand at over £219m, but as AG is heavily involved in both BOU and Coeur, it seems likely that this is the target.