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In South Africa I've only been able to buy EUZ shares at 3cent, and got about 7.5million.
Was hoping that by now it'd be worth more as we're "apparently" close to SS.
Today we've dropped 33% and there's 10.7million shares for sale at 2cents a share, with offers at 1cent.
Unfortunately I have no funds left to rake in at this price, but this SP movement is heartbreaking and it's unrealistic to not be concerned.
@Matrix....this looks like another placement for sure imo....also over 7 million traded at 3c today and all of a sudden someone drops 10 million at 2c ....very very strange indeed. Something is going on and I smell a rat !!!
@Bobby...I also hope I am wrong but what else can actually explain this abnormal behavior on JSE....Yesterday it was LSE....today the JSE....Turner Pope is the only common factor I can see unless I am completely missing something really obvious.....
I honestly don't see this as placements being done, except if they urgently need cash within the next week for some drilling work or something to be completed. The absolutely only other way placements would be done now is if the SS will be worthless. Otherwise it would make no Sens to not wait a week or two, release the SS and then place shares at a higher price. I think som people may have incurred debt to buy shares when LR already said the SS would be out in September. Now it's just taking to long and we had an investor presentation last week with the same public info just being stated again. So possibly some folks are just worried about the dream that was EUZ and have had to climb out. I would relate to this as I've incurred some debt to buy some of my shares based on the research done, and it's really worrying what's happening at the moment. Not everyone has cash and time to just be able to hold onto this for six months and not stress about it. But it just wouldn't make sense for EUZ to do the placing now.
All this conjecture is garbage and people becoming bored.
P.S. I've mailed LR to ask whether they are placing, and will confirm a respons.
I know he is on-site in Spain though, and probably overwhelmed with mails, so response may be slow.
For what it's worth, although I believe this to be obvious, LR did confirm in an email to me that the mention of Q1 was just a slip of tongue and he apologised. So, there you go. Rise Share Price Rise!! ;-)
@Matrix....The JSE is made up of the following and I received this information from Dan Smith some time back when I was considering moving my EUZ portfolio to LSE.
239,863,187 EUZ Shares issued on JSE in Total.
African Pioneer own 130,499,858 shares on JSE.
I own 73,000,000
Total between us 203,499,858
Remaining in SA 36,363,329
"Remaining in SA 36,363,329"
Matrix and I have 13 million shares, so that leaves 23m, with 14m traded today so far. So who's selling?
@Dirty...that's my point exactly....15,274,977 have been traded today and still 3,400,000 offered @ 2c
Which means that 18,674,000 out of the remaining 23M were traded today !!!!
Doesn't make any sense unless Turner Pope have dropped some more.
The one with the big float is African Pioneer. But who's buying? This smacks of some insider deal given there's been minuscule trades recently.
I've been watching level 2 on AIM all morning and all but one trade has been a buy.. there is a significant sell volume off the order book here which happened also yesterday and those trades are still not reported??? I've repeatedly tried a £500 ghost sell trade to gauge the price but all come back NT... never seen this before.