Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The new year bed & isas should not affect the sp, the are just internal transfers of PIs are will consist of matched trades with a minor adjustment. Seems to be a lot of sells, at least one twitter trader has announced they have sold 20% though I remain sceptical about anyone who publicly makes statements about when they buy or sell and their motives.
The seller (the main one) is offloading based on the sp and not the price of vanadium. Hopefully they will inform the company ontime so the revised shareholder listing for March will be available in a couple of weeks or so. That should give us an indication of what volumes they are selling at, and when we are likely to be shut of them.
Cc yep. Duferco did delay updating the company which I recall they also did when the first tranche was being offloaded. If they are going to continue in the same manner then we may get a ‘refreshed’ monthly figure a couple of weeks after being formally released. Not very good really.
I believe that although he had Director is his title, he was not on the board. This was confirmed when he was appointed. So not RNS material but info the company should have made shareholders aware of by whatever means.
Alfa. Possibly but if a proportion of the shares are simply being transferred then I would not expect those to impact the SP. Clearly the offloading of shares by Grafton is a bit of an anchor at present. Interestingly , along similar lines, AV will drop below the radar shortly so if he decides to sell it will not be reported. I think he holds a good few million of these.
We will get a better indication of sell down rates when the figures for March are produced. It would seem though that Duferco/Grafton are not keeping the company fully up to speed with this (again). Hence the later revision.
I suspected this was happening. However, I believe a RNS should have been issued when the shareholding went below 5%. It probably went below this threshold 2 to 3 weeks ago. I think the selling started as soon as the share price went up over10p.
Why is this a surprise? Its been known about for long enough. They will eventually clear. Without the money the company could not have carried out the refurbishment programs. I know there are traders/spread-betters jumping in and out but the share has always had those, probably at few more around at present though.
I see BBN has been selling down (again). There was another prominent trader on Twitter claiming to have bought 6 million shares. I would be fairly certain they’ve sold down now although they never communicate sells, only buys
SP Angel will revise their broker forecasts inline with any significant movement on the price of V, they did this in 2018 with caveats. I imagine they will want to see how events develop over the coming weeks before making revisions to the forecasts. I do expect something in the coming weeks once the company have clarified a few outstanding issues.
In determining profit margins one of the unknowns are the additional admin costs that eat into the net profits and are not known until the financial year is complete, these can add up to $7 to $8 per kg, and also the $ to rand exchange rate can be a factor. The costs at Vanchem are still much higher than Vamecto.
Duferco do have a track record of reporting late. However I am not convinced they were selling in February but think think could now have started with the increase in sp following the Ukranian invasion and subsequent sanctions. Duferco were given the shares at a conversion rate of 9.97p so I’m assuming a target selling price north of 10p. The situation is blurred by trading activity who are no doubt aware of Dufercos position and are trying to outmanoeuvre them. There have been various declarations on Twitter of pro traders buying into this (of course no such declaration when they sell).
I believe (or hope) that Duferco will confirm their position to the company soon so that the relevant RNS can be issued. The sooner they are out the better.