Copper Dev Share Discussion Threads

[willib2] 21/6/2012 14:34

The Count.
I am very surprised you of all people didnt know that.
In fact I was tempted when I read your post to make a very caustic comment relating to your motives.
Re your changing your mind comment, you might get away it once but its self defeating and the FSA would be onto you quite quickly, particularly if you was selling/placing big numbers.
If you dealt with the same broker they would have a system in place to avoid such dealings.
I must say like you it was something I used to think about, until one day my daughter who deals with the FSA pointed out the foolishness of such a suggestion.

[the count of monte_cristo] 21/6/2012 12:54

Thanks Duxy - as you say the commision would eat into any potential value you get out of it...also I suppose if you did manage to drop the share price by making sales there is nothing to stop someone from buying the shares before you. I did not realise this was illegal, but whats to stop someone from selling shares then changing there mind and buying them back in the same day?

I remember reading on the KRG bb about someone saying they did what I detailed in post 214. The idea has fascinated me since.

[duxy786] 21/6/2012 12:34

Thats exactly what an AT trading system does, it's all legal if your an AT trader but illegal if your a PI as far as I can see from past experiance. Also, as a PI, your commission/duty will take away any benefit you gain from doing this unless they was a few people doing this at the same time. my personal opinion....

Best way to win a court case, stay out of court cos I wouldnt want to be in court with the FSA

[the count of monte_cristo] 21/6/2012 07:37

Also worth pointing out that the share is actually quite tightly held, and as there are only 227m shares in issue, this lack of liquidity (if that is the correct term) tends to cause the share to fall on minimal selling pressure...same scenario applies in the opposite direction when we say buying pressure...

...not that I wish to try this but I have been thinking if I were to sell some of my shares...say 50,000..I could sell them in very small chuncks say in 2,000 - 10,000 blocks, which could then pull the share price down a few %...I may then be able to come in with a large buy or buys of say 100k to 200k and pick up a large block of shares...the sale of the 50k of shares would be more than made up for because I could then have picked up a significant block of shares at a cheaper price.

[mike_f] 20/6/2012 20:49

Leoneobull, it is possible yes, there have been a few large(ish) sells of late, I think it may be the reason for such a large fall of late as the copper price hasn't fallen too much and the recent news flow has all be positive!

[leoneobull] 20/6/2012 20:15

on ADVFN last order i see is as 10.12 for 200000 the same yday. i believe an II holder is gradually selling down. this may not be a bad thing once the stock overhang has cleared...?

[mike_f] 20/6/2012 09:58

L2 has just gone 3v1 without any further buying, it would seem that another buy order is being worked through today!

[mike_f] 20/6/2012 09:49

The two small trades this morning are buys, I can currently buy for 10.79p. Bit more volume and we should be away :)

[mike_f] 20/6/2012 08:12

WINS have jumped on the bid this morning joining FOXY with no trades so far, looks like our buyer may be buying a few more :) GLA

[mike_f] 20/6/2012 08:09

Results soon: Audited accounts for the year ended 31 December 2011 - 30 June 2012

[mike_f] 20/6/2012 07:37

Hi Leoneobull, not sure what 400k you are looking at as the one yesterday was at 10.88p reported time of transaction 16:28. The UT was 100k at 10.75 published 15:00...

If they didn't still hold the 30% stake we would have known about it. Maybe we will get an option to buy another 10% on the cheap if they need cash! :)

[the count of monte_cristo] 20/6/2012 07:35

Yes they still own the 30% stake in Basay and Solfotara only sold the equity they held in CDC, to raise funds...see my above post to you????



16:28:25 19-Jun-12 10.88 400,000 43,500.00 OK

[leoneobull] 20/6/2012 07:31

there's nothing wrong with holding Mitch accountable. i think good a couple of people have asked them the same question, perhaps they'll allude to this in the results although i assume they still own the 30% stake in the fields & it's just the equity they've sold?

The 400ks was at 10.25 so wasn't it the UT? any trade is both a buy *& a sell as the chaps on YELL BB are fond of telling us.

when i get more funds i'll av. down ..

[mike_f] 20/6/2012 07:16

Let's see if we get more of the same today. Results soon aren't they?

[the count of monte_cristo] 20/6/2012 07:13

OK thanks Mike, and good morning. Yes nice 400k buy at 10.88p noted in the after hours trading, I guess that was what pushed the share price up.

[mike_f] 20/6/2012 07:11

Morning Count, I meant before I asked the question to Mitch as you had already answered it.

[the count of monte_cristo] 20/6/2012 07:02

Hi Mike, sorry, what do you mean by that, Wish I hung on for a while?

[mike_f] 19/6/2012 22:23

Nice 400k buy reported I see... Thought there was one in the background. Hopefully another rise tomorrow. GLA

[mike_f] 19/6/2012 17:29

Wish I hung on for a little while, I have just emailed Mitch with the question! lol Also a couple of others so not like I will get exactly the same response...

[the count of monte_cristo] 19/6/2012 17:14

Hi Leoneobull - I was actually just about to respond to your initial question, yes I have emailed the company and did get a response, I will summarise what was said.

Solfotara needed funds for its ongoing operations and that is why they sold (simple response really). I was informed that if anyone has any further questions they should contact the company. A contact phone number is in the contacts page and they will be more than happy to go over any questions.

I suppose, as Solfotara already own 30% of Basay if they were running short of funds, or indeed just wanted to make sure that they had sufficient capital so that they would not need to come to the market to raise funds while the capital markets are so poor, selling there shares in CDC was a way for them to generate funds.

I have £85k invested here, again at a much higher average buy price.

[leoneobull] 19/6/2012 16:57

yes but chaps, i'm worried about why Solfotara Mining Corp disposed of all their equity...if we are on the cusp of big things??? have u emailed mitch? i am very long i.e. unfort i have more than 60ks £ in this...at much much higher av.

[duxy786] 19/6/2012 15:45

....for those a little bored watching this tick up in dribs and drabs, put your charting skills to the test with this game...