Member Info for Simms45

Overhang is well and truly gone from the last few days and now it is just normal MMs and there is not a lot of stock about. Probably going to see larger movements over coming days as 1.4 is not far off.
1.3 108,000 CFEP 12:02
1.3 200,000 SING 12:02
1.3 300,000 STFL 12:02
1.3 50,000 12:15
1.3 28,032 12:40
1.3 300,000 WINS 15:02
1.35 300,000 SCAP 15:18
1.4 300,000 PEEL 15:01

Just some stock lingering before we get to Shore Capital MM so could be up to 1.195 ASK quite soon. i think once we get to 1.2 things might get more interesting.

1.17 157,580 12:02
1.17 147,055 12:02
1.18 62,404 12:02
1.18 300,000 12:02
1.18 137,410 12:02
1.195 175,000 SCAP 12:02
1.195 600,000 12:02

Lets hope the BOD before releasing prospectus had done its charm offensive and already secured investors for the open offer. i am not sure they would have gone to all this trouble if they did not taken care of making sure the offer was largely subscribed in advance, although £5m being raised is very small.

Wow. That is really shocking for Barclays to force the sale of your shares. At least HSBC offered to arrange a share certificate. HL just say expect higher trading fees in red letters but sadly a lot of pis are being forced and the MMs know this.

Great news today on the booming HK and Shanghai markets so lets hope we get this over the line and then some :
https://www.cnn.com/2020/07/06/investing/global-stocks/index.html

As usual lots of delayed buys and orders filled on the quiet:

03-Jul-20 16:25:29 7.2867 450,000 Buy* 32.79k O
03-Jul-20 16:23:04 7.89 366,178 Buy* 28.89k O
06-Jul-20 16:14:25 7.19 138,999 Buy* 9,994 O
06-Jul-20 16:06:08 7.19 90,278 Buy* 6,491 O
06-Jul-20 14:52:16 7.24 276,064 Buy* 19.99k O
06-Jul-20 14:27:45 7.05 180,000 Buy* 12.69k O

Once we get a confirmed price for HK tomorrow my expectation is that investors will buy in to close the gap as there will be a guaranteed price of entry into HK so a good profit margin for literally 1 week. MMs have had the upper hand this week because many PIs are simply selling based on the letters they would have received with options to sell or move to a new broker. Most cannot be bothered with the latter if they have less than £5k of shares. It is what i expected but i did also expect more investors to have bought into the price so there would be less of a margin than there is currently. I am also surprised CNEL did not somehow be more proactive in the UK market perhaps completing some buying in the market. I am not sure having a price in the UK that is possibly 60% of the HK listing price is really a great advertisement but if the BOD do not see that being an issue i guess i have to defer to their better judgement. My hope and expectation is we see a 11p price and we might see the share rise quickly in the morning to a price approaching that because even the MMs will see the profit potential.

could be a very different price tomorrow morning once they release the price on HK. Given the HK market has been booming this last week, China has reiterated the buying of stocks, focus on cleantechs and HK citizens also getting a nice $10,000 HK covid bonus you might think the placing should do rather well. Its a shame about the UK side that has rather been a dit of a disappointment with MMs robbing pis of their share before the price announcement.

There might be small little consolation that if we are paying well for land to the locals we might save some money on the water deliveries when they will be sipping on Evian. If you were a CEO you are going for £1.50 minimum. why leave best part of £2m on the table. That certainly helps focus the mind and make sure those dilutions are well considered and aligns tightly with pis. This was setup back in the day when gold was $1250 so really he should be able to smash that price even by next year if all the ducks line up and i think we will smash that price, even by next year if gold rises and we sort all the loose ends.

Not sure about other investor but i got my letter from HSBC telling me to sell up basically or move to another broker. i have already started the latter but today you are seeing forced sellers who have also got the letter. Its is sad for many PIs as MMs are taking advantage because for many PIs they have no alternative really. Hopefully the gap will narrow tomorrow on confirmation. Nice buy in price today as you can pickup shares around 7.2p if anyone is interested.

i seem to remember on the Q&A session that Kefi had completed its funding. in the last round with Rab Capital they got £3.5m and talks of closing the project finance and a further RNS has stated no new funds needed until October, and that assumes the financing does not happen by that time. would be good to clarify but my understanding the Kefi $10m is all paid up.

"The Placing proceeds net of expenses are expected to be approximately £3.5 million and will provide the Company with the funds to enable the closing of the c.US$260 million project financing of the Company's Tulu Kapi Gold Project (the "Project" or "Tulu Kapi"). This includes the anticipated initial closing of the Project level equity in Q2 2020, along with that of the identified debt funding in October 2020, which was set out in the Company's announcement on 24 April 2020 and included details of support for the local investors available from the Ethiopian Government if required. The start of full gold production at Tulu Kapi remains targeted for 2022."

Be interested if someone can post full url to interview?

might have spoken too soon :(. All flying and then mr 1.5m was back at 1.05. I can only hope the momentum takes this seller out as appears level of shares are less but lucky for those who take a advantage as once this seller is gone we know the price will move higher very quickly.

1.05 1,355,169 09:16
1.07 192,227 08:57
1.1 1,680 07:51
1.1 50,000 07:51
1.1 500,000 07:51
1.125 300,000 PEEL 07:50

Nice to see overhang not return. should be reasonable to expect 1.1-1.125 ASK sometime today as we reach the MMs. Just a little stock left at 1.07 and then up to 1.1 momentarily. will get prices like this anymore :)

1.07 214,444 08:57
1.1 1,680 07:51
1.1 50,000 07:51
1.1 500,000 07:51
1.125 300,000 PEEL 07:50

Good to see Hang Seng jump almost 10% last week. Bodes well for price announcment tomorrow and first day of trading if that continues. Might be a scramble to buy into CNEL in China/Hong Kong. We will find out tomorrow. Could well be at a higher price than we think with that momentum.

Just a quick reminder that MC has a payoff for any offers over £1.50 a share so he is very financially rewarded to get this number and why he is as keen as anyone to make sure dilution does not make his task too hard. Land sales must be coming along nicely and we should be expecting some news in the coming weeks given over a month has passed since the rights issue cash came in and we know a lot of that was going immediately to a deposit on a mine (yet to be confirmed) but i think major land sales were in the offing and he was keen to close that. Sellers of land can either accept a very good price or wait for the local villagers and mayor to tell them to sell as they will ultimately be seen as holding up job creation. We are closing in on the time where pressures will appear from all sides to conclude those sales. However we know the plant land is ours, Mestize and Americas so in reality plant can be built and ore trucked in so there is actually a nice argument to move on and not let a few land owners be holdouts. that would certainly focus the mind of the sellers as no one else is going to buy almost worthless land to anyone else as Condor own all the sub surface rights.

Rab could have bought the overhang as afterall they got in at a silly price and even if they bought some more at 1p they would be sitting on a very advantageous position and we could see this week finally moving. Would be good if Rab continue to buy as clearly they can see Hawiah and investor appetite to move Tulu Kapi.

Odd price movement today. i make it £26.6k buys and 5.3k sells but the price drops? Count down to trading update begins and i am predicting a good head of steam.

if you monitor the London Stock Exchange this shows nearly all trades are being done off book and with with post deferral status LRGS. This is all going on behind the scenes and looks to be stealing from the pis that are forced to sell at low prices and probably onto someone building a position.
https://www.londonstockexchange.com/stock/CNEL/china-new-energy-limited/trade-recap

showing up but one of those showing up as a sell lol. Great buy price though! Hopefully you will see 10p by the 7th July.

02-Jul-20 09:14:25 7.86 152,481 Sell* 7.50 8.25 11.99k