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For those who are optimistic, this share is a Dutch auction at the moment. Every day that passes sees the price dip a little as some people lose confidence and sell out. (The volumes are low - these aren't big sellers at all). This gives the positive a chance to buy in or top up. But as the buying price drops a little each day, you never know whether to wait another day in hope of a slightly better entry point, or whether the Dutch auction will close as the news you describe comes out.

The AIM rules say that the share must be suspended between announcement of some details of an RTO and the publication of an admission document. Presumably the latter solves the purpose of "insufficient information". So suspension is expected, unless the deal was deliberately worked to avoid it by not publishing any details until the admission document is ready and then presenting the whole lot at once.

They could, presumably, announce simultaneously: (a) the intention to raise £500k by a placing at 7p; (b) an EGM to approve the extra shares required; (c) the purpose for which the money is to be used; (d) that the EGM will also include a vote on the proposed uses of the money. [(d) only kicks in if the money is for some kind of takeover / merger / major acquisition that would need shareholder approval.]

Exactly, I agree that he likely would have known. ... Which makes it a puzzle as to why he bought when he did rather than later. That's one of many puzzles which I suspect, if we knew how to untangle the puzzle, we'd see what's going on here.

Adam07 - if Frangos knew that HH would resign two days after he increased his holding, why did he buy when he did and not wait for the cheaper prices that were about to come?

gilo - if Peel are trying to get their shares sold why did they just buy more?

More likely, whatever is going on here is the same thing the Sheikh didn't like going on, which is why he left.

Earlier this morning I suggest people look at Tower Resources. Anyone who'd done so would have expected them to follow the big buys a fortnight ago with gentle topups.

There are other companies (plural) where they've built up a long term holding and not divested within a matter of a few days. They appear to invest as well as make markets. You may like to look at TRP for an example.

kentan - Peel Hunt have 18.27%
So add those all up you get 29.76%. Just under 30%
Coincidence?

Thanks, Kickmuck.

If $2-$3 per kg is alleged to be bad, anyone know what say Lynas is selling for, so we have a point of comparison?

As it's paywalled, is there anyone who could see it who can summarise the article? Is it an interview? With whom?

To corroborate what I posted, I did a dummy buy and was offered 5.64, which would show as a sell.
That then means that today there have been 8 buy trades and 8 sell trades. Volume sold = 144k shares; bought = 134k shares.

Looking at the prices of the trades, they're oscillating between about 5.55 and 5.68, which makes me think that the 5.55s are sells and the 5.68s are buys. However the advertised ask is 6, which means the automated system that decides what trades are buys / sells will flag anything below 5.75 as sells. By keeping the advertised ask at 6, rather than dropping it to the 5.7 / 5.75 that seems to be happening in practice, all trades are being shown as sells, whereas in fact I think quite a lot are buys.

We'd accept that offer, Dan

Until we actually hear publicly released news, we know nothing and should not conclude good or bad from the silence. We don't know what's going on behind the scenes. Planning to release news this week is consistent with releasing it next week. What if they've been close to signing on a funding agreement, and had "hoped" it would be done this week and so "planned" to release news when it's done, but then final checks are still ongoing? Should they announce that they're nearly there, just to keep their promise of news this week, or wait until everything's done? Or maybe something totally different is going on? That's the point - we just don't know.

It's just come through. Well done!

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@kentan: I couldn't see an update when you posted this on Tuesday (what website do you use), but I do now at https://www.vesselfinder.com/?imo=9612052. Just off Cape Town, heading NW at 15kn. The significant detail to note for comparison in a few weeks time is the draught of 8.9m