Member Info for Skippysb01

Peel Hunt in an Investment Bank. I think it's important to recognise that the actions will be for a client of Peel Hunt. Having said that it does sound like Peel Hunt could do more due diligence on it's clients.

Well yesterday's TR1 was due to an increase in the overall number of shares in circulation - hence a different % of shares but still the same number of shares held. Todays RNS is a reductions of overall shares held. So in fact only today's relates to any actual settlement activity.

It must be a client of Peel Hunt that got caught in a short squeeze, couldn't settle and now the trades are being settled. Only share settlement is allowed during this suspension - no new trades. So these transactions are to do with trades already placed before the suspension - effectively paying dues with regard to that/finalising the transactions.

I think IMO

Suspension RNS made it clear that settlement can take place during the suspension. So the rates relate to settlement of trades that were under investigation.

Bringmeriches. You are correct. Apologies. I missed the '%' in section 7 and thought it was the number of shares. So yes it is only due to the overall increase in the number of issued shares and not a change in position.

I do still think the settlement issue is related to the Peel Hunt client, hence why we have seen some trade reversals posted during the suspension. But it's still a guess.

It isnt due to an increase in shares on the market. The RNS clearly shows a reduction in the shares held.

Likely part of settlement of the shares. It seems to me that a client of Price Hunt is having to settle or reverse trades from the last couple of weeks. Hopefully this RNS is the last of that and we will be trading again very soon.

Do we think those trades are connected to the settlement problem. Being reversed?

You know the game where you put one grain of rice on the first square on a chessboard and then double that on each square = 1, 2, 4, 8, 16, 32 until it's literally more than all of the grains of sand in the world or some such. Well this is the opposite of that and more like - how many times can I split a grain of sand before it's so small I can't fund it anymore.

Seriously though. I don't think it's dead yet if they can keep the light on until Mako news. IF.

I was very very close to putting a small amount into GEX before the suspension was announced. Instead I had a punt on NTVO which was then swifty suspended. It was beer money but it just goes to show how bad I am at making short term decisions with beer money. Fortunately I take my longer term HEX investment more seriously...

I think they stated in a tweet that drilling started on 22nd June. But yes, we are now in the news window for the current drill.

You do know that Peel Hunt is not a person right?

Steve08 - could be something to do with the settlement of trades which caused the suspension? Who knows.

I wouldn't be surprised if the suspension is lifted tomorrow morning. Settling the number of shares in question isnt going to take very difficult.

None of those trades are current. They are all data stamped from several days ago.

It is however entirely possible that trade settlements can take place during the suspension - but no new trades can happen.

Jail time is a potential outcome for not meeting financial obligations but it is very unlikely.

It should not impact the daily running of the business so the meetings on Monday should go ahead.

The suspension protects shareholders. Hard to fathom that but it is one of the reasons to suspend the share. But we are not important as part of the settlement and we are all expected to know the risks and live with that.

Shorting is legal, gambling is legal. Not meeting your financial obligations is a grey area in practice.

If that's what has happened the shorter can be expected to find other ways to cover the position. So all assets are on the table. Most likely is they will loan the money from somewhere, or the company might help them out. If it's a PI who is using Peel Hunt to manage the transactions then they might be expected to sell private assets like they could for any other debt. Peel Hunt could be in trouble for not having the right safeguards in place and not establishing if the client has funds to cover the risks etc. etc.

Most likely it blows over next week.

Hard to find any recent examples of AIM companies being suspended for the same reason - using Google - so I haven't tried very hard. CAP-XX 27th March 2024. They were trading again in about a month - sure the circumstances will have been very different.

Suggest that if you are invested, whatever the outcome, learn from it. I have a small amount now in jail here.

Ranger - yes the investment case stands or falls on whether we can assume that the mine operations will start again and they produce some gold. If so the market cap is currently very low, if not we will have more of the same.

Stevo08. Yes got that. Much hangs on reopening the mine in July. High risk.

Ranger - They did announce that the mine would be reopened in July. so whilst you say there is no great rush to reopen the mine - it's not like it can't be on track either?

Oh dear... this is so cringe.