Member Info for sandgrounded

I sent an email regarding the lapsed warrants a week ago. No reply. If the price had risen in percentage terms as it has dropped, the stock market would be requiring a statement from the company. Vincent Cable once talked about the seedy side of business ethics. It looks like the private investor in this company is seeing it at work again. Some people have seen the value of the nickle and decided that the general shareholder is not getting any of it. They will squeeze the company until someone comes along and lends them a million or two to keep going. They will tell all the shareholders this is the only route possible. When it comes to paying the loan back, the lenders take it in shares at a ridiculously low price, leaving them as majority shareholders. The company is then sold on. Saw it happen with Hidefield (HIF). Didn't ever think it would happen here, but I suppose warning sighs were there when the original directors left the company without even a thank you from the current BOD!

Are there problems at our Miyabi partners? The reason I ask is that their CEO resigned a month or so ago and today I cannot get onto their website.

You make a good point about companies balancing their books at year end and the losses here could be offset against gains elsewhere. If Vestra feel that they can get back in after April at a similar entry point it may well be a sound financial move. This company now has less than a 3% holding and therefore does not need to inform the market if it sell any more shares. I suppose we are back to being left in the dark! One final point off topic - Rift Valley Resources have updated today. Nothing much as yet except they have finished some more drilling at miyabi and expect results at the end of February.

Renegade, I think your figures are correct, maybe 3 million left. However as Kechacho has said, is this the start of an offload by Vestra? Also they sold the 10 million at 1.9p if memory serves me right, and though the MM's sold some at 2.25p, they appear to be struggling to sell the remainder at 2p. It also means that if Vestra obtained most of these shares at the last placing, it doesn't look like they will take up their options. lol

RNS out re sale of 10 million shares. Appears it was Vestra Wealth fund selling. We will have a stock overhang till these are sold IMHO

The shareholding list has been updated to the 19th Feb 2013. I lost all my previous data when my computer crashed. Any notable changes anyone?

Thanks for keeping us all updated. Do you have any thoughts on the 10 million trades last week? Could they have been a buy and a sell or even a rollover short trade disguised by the mms?

10 million shares is over 1% of the companies total shares. I thought if someone's holdings changed by that amount (above 3% holding), it had to be declared. Are these people selling at 2p to buy back at 1.5p. If so in my mind that is blatant insider info.