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Not great reading, looks like the aim is to pay back to bond holders, not get the best deal for shareholders. Sold the last bit of my holding first thing this morning due to this, although there is still a glimmer of hope, I’m not convinced.
Solid day, looking forward to next week, should be interesting!
With all the recent buying over the last few months, surely there can’t be many shares in free-float and with the spread deterring buyers, this is likely to move very quickly once details of any deal are announced.
Decent buys now coming in way above advertised ask, decent afternoon ahead.....?
Couple of buys to kick off the day. Let’s hope people ignore the ridiculous advertised spread and see the massive potential here. Hoping for a good day heading into weekend, then a big week next week.
Advertised spread still seems to be aimed at deterring buyers, although there’s been a few buys today although not massive. SP has been very strange over the last few weeks / months, time for a solid update to get this rectified and moving back to where it should be.
As the RNS stated ‘days’ and as it’s now been a week, think some investors are becoming increasingly concerned and are selling out following the initial excitement regarding the ‘multiple offers’. Also the advertised spread is feeding into this, unsure what this is for, to intentionally put people off?
Patience is definitely required here, awaiting further details on these potential offers and what the figures / T’s & C’s look like. Hopefully with the delayed bond holder meeting, some sort of update is surely in the pipeline.
The SP seems to have held Ok since the initial spike following a great RNS. There is massive potential here, despite the doom and gloom brigade highlighted below. However the risk can’t be ignored, it really depends on what the offers look like, so I guess we’ll soon see. I decided, being in quite a fortunate position, to Top Slice yesterday and pull out my initial investment, so I’m on a free ride, which will be left in until the next update, make or break, fingers crossed.
Agreed. The anticipation of the deal falling through seemed priced in at this SP so it’s no surprise the RNS confirming this has not impacted the SP any further. Also seems to be a bit of stalemate, no one buying or selling at the moment awaiting the next update with regards to further negotiations with potential buyers of Team Internet, let’s hope the next update is a positive one.
Discussions now terminated, company pursuing any other interested party in the purchase of Team Internet.
Does seem strange, when they narrowed the spread yesterday, over 2% of the company was purchased, todays spread will only deter buyers, very odd.
The buying continues......
Definitely a lot of buying pressure over last few weeks, any hint of a deal this should shoot with not many shares in issue, and even fewer with recent level of buys. It’s a risky one, but massive upside should the news be right.
Agreed. Being weird at the moment this share, over 1.5% of the company bought today, with little sells, surely should be moving up rather than down....?
Still a steady stream of buys today, not massive, but hopefully going in the right direction.
Bought a few million top-up at 16:15, then went to buy a few more just before close, however went into auction.
Hopefully this bodes well for another good start again tomorrow morning, feel the recent drop is overdone.
You could look at it another way, the consolidation is to get the share price to respectable level to attract investors, and the presentation is surely to demonstrate how the company is going to move forward, without further dilution, and how they are going to maintain profitability, especially through the wet seasons.
I personally think this is needed to show the market that BlueRock is going through positive changes and the new management team are turning it around, especially when you google search BlueRock and there’s articles such as ‘did you manage to avoid BlueRock Diamond’s 98% share wipeout’, hardly the best press......
Great update, as expected, onwards and upwards towards a company producing profit. Not expecting fireworks today but a steady upward trend over the next few months would be nice.
If the Q2 update shows the plan is coming to fruition and the company is heading towards profitability in the second half of 2019 alongside demonstrating it will be self-funding ongoing, with 7 day per week mining to ramp up production, producing diamonds such as the 24.98 carat recently pulled out, then the market cap seems ridiculous.
Also if there is any mention of a second pipe coming into production, to counter for when moisture/dampness in the ground impacts mining, then surely this will also prove to the market how the new management team are turning it around at BlueRock.
Yeah, most buys are a below the mid at the moment, very strange. Although a positive day with zero sells. But more buying pressure would be good, anyway role on next week.