Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
And Richard Griffiths owns 77% of Adams Plc
As expected, it was Invesco, or at least primarily them. Sold approx. 12.5m since their last TR-1. Does that account for all the activity yesterday? I’d also like to know who bought them.
Thanks ShearClass. I was aware of NW and Invesco’s holdings, and I’d like nothing more than for what must be an imminent TR-1 to evidence selling from them. I’m perfectly happy with the company fundamentals and I think it’s a great recovery play from here. Seems strange that they’d sell now however, given the recovery in play here.
It doesn’t look like it got dragged down as severely as the past three days. No flurry of AT trades from what I can see.
Besides, there seems to have been a post-close 700k share buy (although after today it’s probably a sell!).
Don’t know what to make of it now. Hoping that value will turn the tide in the next few months, but it sure is difficult to ignore this price action.
Ah I see. Not ideal.
On the brighter side, even if he’s part of the crew that are selling, who is taking up the shares? RG is very exposed at 27+%, so it wouldn’t exactly surprise me if he started reducing his position. I don’t want to see that, however. This can’t just be SG now. Invesco still had 65m to clear so they’ll almost certainly be playing today.
It’s all a laugh eh.
Perhaps this is why RG sold a chunk of STX - to free up cash to take more CIR when SG and Invesco came to the table to sell up?
RG is known to do what? Reckon he’s taking up the sales from SG and Invesco perhaps? Someone has to be buying those massive chunks.
Given that the price is tanking, I’d wager not.
Still, it appears to be blatant manipulation, regardless of whether they’re buys or sells. Three days in a row of this nonsense.
I don’t think any respectable professional investor or institution that has recently declared a significant position would abuse the system in such a way as to facilitate an exit/entry, so this must be being targeted by some other entity.
The main red flag for me would be if RG starts selling out, but this activity is surely something else. Strange.
Similar drop in magnitude to that which we saw from 4/11 - 19/11, just after which some large volume drove the price back up. I think I’m just going to remain positive and explicit a sizeable buy to show up this week. Weekly and monthly charts still look strong, which is probably where to focus if you’re in this for the longer term.
This is just a bit bizarre now and I did not expect a drop to this extent. I’ve been topping up on the way down, each time thinking I got a good price only to be proven wrong! Fundamentals are strong and yet the price still is not. Which is going to win in the end?
The way you describe it almost seems like market manipulation, but I guess there’s an advantage to being an emotionless computer algo with access to far more data than the rest of us.
Still, at present, this drop doesn’t change the fundamentals. Great trading opportunity if you’ve got the time and discipline.
Did a bunch of stops just get triggered into close? Similar pattern to yesterday. I was going to suggest someone trying to drag the price down, but they’re all auto trades. Be interesting if any delayed big buys get printed this evening. Either way I don’t think it’s anything to be concerned about.
Seller keeping the price down it seems. SG or Invesco again perhaps?
I love seeing comments (not on this BB) to the tune of “we’d be going up if it weren’t for this seller”...well duh, that’s kinda how the markets work.
This sideways action could well be prolonged for a little longer if significant holders are closing down their positions. Best to turn off the screen for a few months.
Now you’ve got your answer - Oryx International Growth Fund
Looking tidy now.
Anyone think CIR’s cash is sufficient? RG sold a sizeable chunk of STX and a member on that board suggested it could be to fund a placing. That got me wondering if that is a likely scenario, and whether CIR could be the recipient of that money. Anyone agree?
Highly likely that the warrant holders were the primary beneficiaries of this recent news. People got far too carried away dreaming about their new Ferrari and now the volume is drying up and we’re already heading back towards 2p. Why is it that a recent RNS cautioned that there is no guarantee of a deal? Probably because, at least in the short term, it is unlikely. I have no position here and am not looking to drive the price down at all. Just wanted to clarify that before you lot start conjuring up theories that anyone who posts something that isn’t what you want to hear, is somehow a malicious individual trying to get in at a lower price.
In the short term, warrant holders will be the only winners. They’re undoubtedly cashing out and fair play to them for doing so. People screaming manipulative MMs are not thinking about this logically. It’s in the MMs best interests to fill the largest orders; they don’t really care if the price goes up or down because they’ll usually win either way. If they’ve got huge sell orders waiting in line from warrant holders, they’ll need to entice buyers (namely retail investors) by raising the price in order to fill them. Unless a deal is announced, this will remain a warrant clearing exercise and it’ll tank when that’s said and done.
As others have rightly pointed out though, similar deals have been sizeable, and certainly at a huge premium to the current value of EUA, so if you’re a believer, hold for that event only and ignore the in between. Just don’t remortgage your house for it.
Long time reader, first time poster.
Just wanted to comment on this situation because it’s an interesting one.
Labrum clearly dumped hard (and the large sells indicate he likely still is), but they’re getting bought up with minimal impact to the price. Who knows why he’s selling. For me, I’m happier to hold knowing that RG has a large position, as does AM, both of whom are linked to Silence Theraputix, and lord knows I wish I hadn’t missed that one.
Labrum imo is inconsequential. Our new holders clearly got quite the discount on their acquisitions, but they bothered to do so nonetheless, and wouldn’t want their names in the dirt for closing their positions after such a short time. They also wouldn’t even be able to do so easily as that would require yet another large buyer.
My theory is that this is all part of the consortium who are buying out Neil Woodford’s biotechs. RG mopped up a big chunk of CIR, owns some EVG, has done supremely well in SLN, STX, to name a few biotechs. I think they’re confident, and I am too.